HOUSEWARES – AUSTRALIA

Harvey Norman offers buy-back olive branch

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Original article by Sue Mitchell
The Australian Financial Review – Page: 17 & 28 : 1-Sep-17

Listed furniture and homewares retailer Harvey Norman has posted a 2016-17 after-tax net profit of $A448.9m, which is 29 per cent higher than previously. The group’s underlying net profit was up 15.7 per cent to $A390.8m, while its franchised stores in Australia recorded 5.4 per cent growth in sales, to $A5.6bn. The company’s final dividend has been reduced, although chairman Gerry Harvey has flagged the possibility of a share buyback. Harvey Norman shares closed 7.5 per cent lower at $A4.08 on 31 August.

CORPORATES
HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, DEUTSCHE BANK AG, OWNERSHIP MATTERS PTY LTD, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AMAZON.COM INCORPORATED

Where do Australians buy their homewares?

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 7-Apr-16

A Roy Morgan Single Source survey has found that just over 1.6 million Australians aged 14+ buy homewares in an average four weeks, spending an average of $A73 per person. The survey, which was carried out in the year to December 2015, also shows that 286,000 Australians make at least one homewares purchase from Kmart in an average four weeks, with an average spend of $A54 each. Meanwhile, 90,000 Australians buy homewares from IKEA in any given four weeks, but with an average spend of $A118 each.

CORPORATES
ROY MORGAN RESEARCH LIMITED, KMART AUSTRALIA LIMITED, IKEA TRADING PTY LTD, MYER HOLDINGS LIMITED – ASX MYR, DAVID JONES LIMITED, WOOLWORTHS LIMITED – ASX WOW, BUNNINGS GROUP LIMITED

Gerry Harvey faces possible strike and spill

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Original article by Sue Mitchell
The Australian Financial Review – Page: 9 : 24-Nov-15

The "two strikes" rule could be invoked at the 2015 annual meeting of retailer Harvey Norman, after more than 25 per cent of shareholders voted against its remuneration report in 2014. Executive chairman Gerry Harvey argues that the group’s executives are paid less than the bulk of companies that are of a comparable size. Harvey and the family of late co-founder Ian Norman have sufficient voting power to thwart a board spill if they choose to do so. Harvey traditionally does not vote on the remuneration report.

CORPORATES
HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, AUSTRALIAN SHAREHOLDERS’ ASSOCIATION

Debt-free Pac Brands upgrades profit

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Original article by Sue Mitchell
The Australian Financial Review – Page: 23 : 3-Jul-15

Shares in Pacific Brands gained $A0.165 to close at $A0.49 on 2 July 2015, after the clothing and homewares group lifted its earnings forecast. Pacific Brands’ revised guidance is for 2014-15 underlying EBIT to be within the range of $A63m to $A65m, compared with market expectations of about $A60.1m. Meanwhile, asset sales have allowed the group to be free of debt for the first time since its sharemarket debut in 2004.

CORPORATES
PACIFIC BRANDS LIMITED – ASX PBG, BONDS INDUSTRIES LIMITED, SHERIDAN AUSTRALIA PTY LTD, HARD YAKKA, VOLLEY, GROSBY FOOTWEAR, KING GEE CLOTHING COMPANY, WESFARMERS LIMITED – ASX WES, EVERLAST PTY LTD, SLAZENGER, DUNLOP SPORT, ANCHORAGE CAPITAL PARTNERS PTY LTD, IBML CAPITAL PTY LTD, THE PAS GROUP LIMITED – ASX PGR, DESIGNWORKS LIMITED, WOOLWORTHS LIMITED – ASX WOW, BIG W DISCOUNT STORES, TARGET AUSTRALIA PTY LTD, LEGG MASON ASSET MANAGEMENT AUSTRALIA LIMITED

Gerry Harvey upbeat on retail sales outlook

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Original article by Carrie LaFrenz
The Australian Financial Review – Page: 14 : 15-Jan-15

Citigroup’s Craig Woolford estimates that Australian retailers generally enjoyed same-store sales growth of 2-3 per cent during the 2014 Christmas and New Year period. Harvey Norman recorded strong growth in sales, according to chairman Gerry Harvey, and he is optimistic about the group’s prospects for 2015. Harvey Norman shares closed $A0.23 higher at $A3.69 on 14 January, and Merrill Lynch has upgraded its share price target to $A4

CORPORATES
HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, CITIGROUP PTY LTD, MERRILL LYNCH (AUSTRALIA) PTY LTD, INCU PTY LTD, SUPER RETAIL GROUP LIMITED – ASX SUL, PREMIER INVESTMENTS LIMITED – ASX PMV, PETER ALEXANDER SLEEPWEAR PTY LTD, JUST JEANS PTY LTD, PORTMANS PTY LTD, SMIGGLE PTY LTD, JB HI-FI LIMITED – ASX JBH, NET-A-PORTER.COM LIMITED, MR PORTER