Harvey Norman suffers fall in profits

[Don McKenzie]

Harvey Norman suffers fall in profits
Feb 25, 2011 2:08 PM (17 hours ago)

Retailer Harvey Norman has suffered a 16.5 percent drop in first half profits over the previous corresponding period,
the company reported today.

Net profit after tax was $131.67 million compared with $158.86 million the year prior, a decrease of 17.1 percent.

Chairman Gerry Harvey blamed the profit slump on price deflation in key categories driven by the high Australian dollar,
bad weather and costs incurred from buying Clive Peeters.

http://www.itnews.com.au/News/249330,harvey-norman-suffers-fall-in-profits.aspx

Hmm... He says nothing about his support of the 10% GST import issue, as having any effect.

Cheers Don...

===============


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[Rod Speed]

Don McKenzie wrote

Harvey Norman suffers fall in profits
Feb 25, 2011 2:08 PM (17 hours ago)

Retailer Harvey Norman has suffered a 16.5 percent drop in first half profits over the previous corresponding period,
the company reported today.

Net profit after tax was $131.67 million compared with $158.86
million the year prior, a decrease of 17.1 percent.

Chairman Gerry Harvey blamed the profit slump on price deflation in
key categories driven by the high Australian dollar, bad weather and
costs incurred from buying Clive Peeters.

Hmm... He says nothing about his support of the 10% GST import issue, as having any effect.

Its bloody unlikely that had any measurable effect.

 

[Don McKenzie]

Don McKenzie wrote





Its bloody unlikely that had any measurable effect.

article quotes:
"first half profits over the previous corresponding period"

If this is a 3 or 6 month period from last year, then it wouldn't have covered the time when Gerry made the GST
statements, and got the back lash and threats.

The other side of the coin is there must be massive sales of white goods, furniture, and other gear because of the
massive losses during the recent floods and cyclone.

So again, one may well negate the other somewhat.

His profit could even be well up this quarter.

Cheers Don...

=======================


--
Don McKenzie

Site Map: http://www.dontronics.com/sitemap
E-Mail Contact Page: http://www.dontronics.com/email
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These products will reduce in price by 5% every month:
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http://www.dontronics-shop.com/ics.html

Bare Proto PCB for PIC or AVR projects?
"I'd buy that for a Dollar!".

 

[Rod Speed]

Don McKenzie wrote

Rod Speed wrote

article quotes:
"first half profits over the previous corresponding period"

Yes, but a hell of a lot more happened than just the GST import issue between those.

If this is a 3 or 6 month period from last year,

It has to be 6 months to be the first half.

then it wouldn't have covered the time when Gerry made the GST statements, and got the back lash and threats.

A hell of a lot more than just that happened between those two periods.

The other side of the coin is there must be massive sales of white goods, furniture, and other gear because of the
massive losses during the recent floods and cyclone.

Yes, but that wont be showing up in the results just reported.

So again, one may well negate the other somewhat.

You havent established that the GST campaign had any measurable effect whatever.

His profit could even be well up this quarter.

Yep.

 

[[email protected]]

Don McKenzie wrote





Its bloody unlikely that had any measurable effect.

Possibly not, but one effect of his rantings was to show people
how to buy over the internet (both domestic and overseas sites)
at much lower prices than going to HN. His foot must be hurting
from the bullet wound.

Pete

 

[Rod Speed]

[email protected] wrote

Possibly not,

Certainly not.

but one effect of his rantings was to show people how to
buy over the internet (both domestic and overseas sites)
at much lower prices than going to HN.

Nope, **** all of what HN flogs is viable to buy over the net.

His foot must be hurting from the bullet wound.

There is no bullet wound, just Gerry with egg on his face, again.

 

[terryc]

Chairman Gerry Harvey blamed the profit slump on price deflation in key
categories driven by the high Australian dollar, bad weather and costs
incurred from buying Clive Peeters.

so it had nothing to do with buying online. He finally admits that he
can no longer stand the competition.

 

[terryc]

Nope, **** all of what HN flogs is viable to buy over the net.

Computer stuff, camera, mobiles, small household appliance,
flooring/carpets as just some of the items at the local that could be
easily purchased over the net.

The other bulky goods wouldn't be worth it.

 

[Rod Speed]

terryc wrote

Rod Speed wrote

Computer stuff, camera, mobiles, small household appliance,

Like I said, **** all of HN's turnover.

flooring/carpets as just some of the items at the local that could be easily purchased over the net.

Just another of your pig ignorant lies.

The other bulky goods wouldn't be worth it.

What I said, fuckwit.

 

[Fred]

so it had nothing to do with buying online. He finally admits that he
can no longer stand the competition.

If you'd paid attention to what he actually said, rather than the
hysterical media response you would know that he thought that his
operation could compete with overseas GST free sales.
What he stated was his opinion that allowing overseas sites to sell into
Australia GST free was unfair.
He also said that some importers were rorting the import rules using
multiple small orders.
Another one of his points was that the Government might have to look at
this area because as time goes on they will be forgoing a lot of tax
receipts.

 

[terryc]

terryc wrote


Like I said, **** all of HN's turnover.

Oh, you know the break down do you?
Strange that for space isn't proportional.

Just another of your pig ignorant lies.

Obviously haven't looked closely at some of the "modern" flooring options.

 

[Rod Speed]

Fred wrote

terryc wrote

If you'd paid attention to what he actually said, rather than the
hysterical media response you would know that he thought that his
operation could compete with overseas GST free sales.

What he stated was his opinion that allowing overseas sites to sell
into Australia GST free was unfair.

He also said that some importers were rorting the import rules using
multiple small orders.

Yes to all of that.

Another one of his points was that the Government might have to look at this area because as time goes on they will be
forgoing a lot of tax receipts.

This one cant fly, whats practical to post/courier isnt that big a part of the
turnover that govt taxes and there is the cost of charging the GST on
the <1K$ items that has to be offset too when it isnt feasible to have
the retailler do the GST charging with imports.

 

[Rod Speed]

terryc wrote

Rod Speed wrote

Oh, you know the break down do you?
Yep.

Strange that for space isn't proportional.

Not strange at all.

Obviously haven't looked closely at some of the "modern" flooring options.

Wrong, as always.

 

[terryc]

If you'd paid attention to what he actually said,

URL?

 

[Fred]

URL?

He commented numerous times in TV interviews after last years AGM.
To get an idea of his thinking at the time he gave an interview on
Switzer before the AGM.
http://www.switzer.com.au/video/gerry-harvey

Some news reports edited down his comments for print.
http://www.theage.com.au/business/gerry-harvey-calls-for-gst-on-online-purchases-20101123-1850x.html

"The federal government should place a good and services tax on products
bought from overseas online retailers, Harvey Norman chief executive
Gerry Harvey says.

Mr Harvey said local retailers were at an ‘‘unfair disadvantage’’ in
competing against goods bought from overseas.

Australians can buy goods online from overseas and not pay duty for
products under $1000.
Advertisement: Story continues below

‘‘The fact that people say ... it is too hard - that is bulls...,’’ Mr
Harvey said in a response to a question at the company’s annual general
meeting in Sydney.

‘‘Other countries do it. We can do it.’’"

 

[Rod Speed]

no one wrote

like i said , how is the post , customs etc.,..... gonna know its a ebay item , or that its a " GIFT "

Like I said, from who sent it and whats included packing slip etc wise.

 

[atec77]

no one wrote


Like I said, from who sent it and whats included packing slip etc wise.

bullshite you bullshitting scumm

there are numerous company's that forward re-mail marking item as gift
no charge etc and email the receipts hence no trail
Best you stop making it up about a generation ago or you will be
ripped a new one woddles as always

 

[terryc]

there are numerous company's that forward re-mail marking item as gift
no charge etc and email the receipts hence no trail

It will work like tax; go with the numbers; if it comes out of X
location, therefore it is not a gift.

Shrug, even if it is a election pledge, someone in the public service
will have figures of economic to chase or not and the government of the
day will not want to throw money away.

 

[atec77]

It will work like tax; go with the numbers; if it comes out of X
location, therefore it is not a gift.

Shrug, even if it is a election pledge, someone in the public service
will have figures of economic to chase or not and the government of the
day will not want to throw money away.

If it us under the fiscal limit no charge , anything else atm would be
illegal

 

[atec77]

ummm no !!!!

like i said , if any body sends a item that someone brought from ebay ,
THEY DONT label it ebay , they have to put the persons name and type of
item i.e : spark plugs......

so by marking those car parts igniters of the tiny percentage that is
manually checked maybe a few percent of which gets inspection we can
reasonably expect igniters to pass without comment being under the cost
limitSO your very circular argument is wasted