Harvey Norman | A1 RICHMOND ROAD | |
HOMEBUSH WEST N.S.W. 2140 | ||
Holdings Limited | LOCKED BAG 2 | |
SILVERWATER DC, N.S.W 1811 | ||
A.C.N. 003 237 545 | Telephone: (02) | 9201 6111 |
Facsimile: (02) | 9201 6250 |
31 August 2021
Australian Securities Exchange Limited
Exchange Centre
20 Bridge Street
SYDNEY NSW 2000
AGGREGATED SALES REVENUE
FOR THE TWELVE (12) MONTHS ENDED 30 JUNE 2021
UP 15.3%
The Directors of Harvey Norman Holdings Limited announce that the aggregated sales revenue from Harvey Norman® wholly-ownedcompany-operated stores in New Zealand, Slovenia, Croatia, Ireland and Northern Ireland, majority-owned controlled company-operated stores in Singapore and Malaysia, and from independent Harvey Norman®, Domayne® and Joyce Mayne® branded franchised complexes in Australia (Aggregated Sales) totalled $9.49 billion for the twelve (12) months ended 30 June 2021. When compared to Aggregated Sales for the twelve (12) months ended 30 June 2020, the increase was 15.3%. Comparable Aggregated Sales for the twelve (12) months ended 30 June 2021 when compared to the twelve (12) months ended 30 June 2020, increased by 13.9%. Sales made by franchisees in Australia are not made by Harvey Norman Holdings Limited or its controlled entities.
Aggregated Sales have been negatively affected by a 3.1% depreciation in the Euro (€), a 3.9% depreciation in the UK Pound (£GBP), a 7.6% depreciation in the Singaporean dollar ($SGD), a 8.4% depreciation in the Malaysian Ringgit (MYR) and a 1.8% depreciation the New Zealand dollar ($NZD) for the financial year ended 30 June 2021 compared to the financial year ended 30 June 2020.
During the twelve (12) months ended 30 June 2021, twelve (12) company-operated stores were opened as follows:
- two (2) new stores were opened in Ireland: Galway City on 22 July and Sligo on 5 November 2020;
- one (1) new store at Pula, Croatia was opened on 26 November 2020;
- three (3) new stores were opened in Malaysia: KL East Mall on 25 November, Menara on 5 December and Quayside Mall on 19 December 2020:
- three (3) new stores were opened in Singapore: Seletar Mall on 15 September, The Centrepoint on 22 September and Westgate on 25 November 2020.
- two (2) Harvey Norman® outlets in New Zealand were opened at Dunedin on 8 August and Glen Innes on 26 October 2020, and one (1) commercial showroom at Grey Lynn was opened on 15 October 2020.
The above company-operated store openings overseas were offset by one (1) store closure during the financial year ended 30 June 2021, with the closure of the store at Kinex Mall in Singapore on 27 September 2020.
In Australia, the new premium-format Harvey Norman® franchised complex was opened at Hornsby, NSW on 2 October 2020 and three small-format Harvey Norman® franchised complexes were closed during the financial year ended 30 June 2021.
1
Aggregated Sales increase / (decrease) in Australian Dollars $A - TOTAL SALES
(% increases have been calculated in Australian Dollars $A)
COUNTRY | 1Q21 vs. | 2Q21 vs. | 3Q21 vs. | 4Q21 vs. | FY21 vs. FY20 | ||||
1Q20 | 2Q20 | 3Q20 | 4Q20 | % | |||||
% | % | % | % | ||||||
Australian Franchisees | 31.4 | 23.8 | 11.4 | (-9.7) | 12.8 | ||||
New Zealand | 18.6 | 17.4 | 13.8 | 29.4 | 19.6 | ||||
Slovenia & Croatia | 26.8 | 3.4 | 18.6 | 19.4 | 16.1 | ||||
Ireland | 65.5 | 48.6 | 40.1 | 39.7 | 48.0 | ||||
Northern Ireland | 18.1 | 22.7 | (-33.3) | 195.9 | 25.4 | ||||
Singapore | (-3.3) | 6.5 | (-6.5) | 87.5 | 12.1 | ||||
Malaysia | 4.9 | 9.6 | 23.2 | (-8.2) | 7.8 | ||||
Total Increase / (Decrease) % in $AUD | 28.9 | 23.2 | 12.7 | (-1.3) | 15.3 |
Aggregated Sales increase / (decrease) in Australian Dollars $A - COMPARABLE SALES1
(% increases have been calculated in Australian Dollars $A)
- comparable sales growth has not been adjusted for the temporary closures mandated by each local government as a result of their COVID-19 Response
COUNTRY | 1Q21 vs. | 2Q21 vs. | 3Q21 vs. | 4Q21 vs. | FY21 vs. FY20 | ||||
1Q20 | 2Q20 | 3Q20 | 4Q20 | % | |||||
% | % | % | % | ||||||
Australian Franchisees | 32.3 | 23.5 | 11.3 | (-9.8) | 12.9 | ||||
New Zealand | 17.8 | 16.4 | 12.6 | 28.3 | 18.5 | ||||
Slovenia & Croatia | 26.8 | 0.3 | 9.8 | 10.1 | 11.0 | ||||
Ireland | 58.4 | 36.4 | 27.0 | 26.5 | 36.3 | ||||
Northern Ireland | 18.1 | 22.7 | (-33.3) | 195.9 | 25.4 | ||||
Singapore | (-4.3) | (-5.9) | (-16.5) | 67.7 | 2.3 | ||||
Malaysia | (-7.3) | 0.3 | 10.7 | (-21.1) | (-3.8) | ||||
Total Increase / (Decrease) % in $AUD | 28.7 | 21.2 | 10.9 | (-2.8) | 13.9 | ||||
Aggregated Sales increase / (decrease) in Constant Local Currencies - TOTAL SALES | |||||||||
(% increases have been calculated in local currencies) | |||||||||
COUNTRY | 1Q21 vs. | 2Q21 vs. | 3Q21 vs. | 4Q21 vs. | FY21 vs. FY20 | ||||
1Q20 | 2Q20 | 3Q20 | 4Q20 | % | |||||
% | % | % | % | ||||||
Australian Franchisees | $A | 31.4 | 23.8 | 11.4 | (-9.7) | 12.8 | |||
New Zealand | $NZD | 21.2 | 18.0 | 18.0 | 31.0 | 21.8 | |||
Slovenia & Croatia | €Euro | 25.8 | 2.7 | 26.3 | 29.9 | 19.8 | |||
Ireland | €Euro | 64.4 | 47.5 | 50.8 | 52.5 | 52.6 | |||
Northern Ireland | £GBP | 17.6 | 26.9 | (-27.4) | 223.1 | 30.5 | |||
Singapore | $SGD | 0.8 | 12.3 | 5.8 | 107.4 | 21.3 | |||
Malaysia | MYR | 10.4 | 15.4 | 40.0 | 4.5 | 17.6 |
Aggregated Sales increase/(decrease) in Constant Local Currencies - COMPARABLE SALES1
(% increases have been calculated in local currencies)
- comparable sales growth has not been adjusted for the temporary closures mandated by each local government as a result of their COVID-19 Response
COUNTRY | 1Q21 vs. | 2Q21 vs. | 3Q21 vs. | 4Q21 vs. | FY21 vs. FY20 | |||||
1Q20 | 2Q20 | 3Q20 | 4Q20 | % | ||||||
% | % | % | % | |||||||
Australian Franchisees | $A | 32.3 | 23.5 | 11.3 | (-9.8) | 12.9 | ||||
New Zealand | $NZD | 20.4 | 16.9 | 16.7 | 29.9 | 20.7 | ||||
Slovenia & Croatia | €Euro | 25.8 | (-0.4) | 17.0 | 20.2 | 14.5 | ||||
Ireland | €Euro | 57.3 | 35.4 | 36.7 | 38.3 | 40.6 | ||||
Northern Ireland | £GBP | 17.6 | 26.9 | (-27.4) | 223.1 | 30.5 | ||||
Singapore | $SGD | (-0.2) | (-0.8) | (-5.6) | 86.0 | 10.8 | ||||
Malaysia | MYR | (-2.4) | 5.6 | 25.7 | (-9.3) | 5.1 |
2
Mandatory temporary COVID-19 closures imposed by each local government for the year ended 30 June 2021 are outlined in Table 1 below. Comparable sales in the previous corresponding period were not adjusted for the effect of these mandated temporary closures.
TABLE 1: Government Mandated Temporary Closure Dates | |||||||||||||||||
1 July 2020 to 30 June 2021 | |||||||||||||||||
Affected Product Category | Date | Date Re-opened | |||||||||||||||
Closed | |||||||||||||||||
Australian Franchised Complexes: | |||||||||||||||||
18 Franchised | All product categories in the 18 Harvey | ||||||||||||||||
Norman® and Domayne® franchised complexes | 06/08/20 | 28/10/20 | |||||||||||||||
Complexes | |||||||||||||||||
Franchised | in greater Melbourne, VIC | ||||||||||||||||
13/02/21 | 18/02/21 | ||||||||||||||||
Complexes in | 39 Franchised | All product categories in the 39 Harvey | |||||||||||||||
Regional 04/06/21; | |||||||||||||||||
Victoria (VIC) | Norman® and Domayne® franchised complexes | ||||||||||||||||
Complexes | |||||||||||||||||
28/05/21 | greater Melb. | ||||||||||||||||
across VIC | |||||||||||||||||
10/06/21 | |||||||||||||||||
Online Trade | Online permitted - all product categories | open | |||||||||||||||
Franchised | 10 Franchised | All product categories in the 10 Harvey | 19/11/20 | 22/11/20 | |||||||||||||
Complexes | Norman® franchised complexes in SA | ||||||||||||||||
Complexes in | |||||||||||||||||
South Australia | Online Trade | Online permitted - all product categories | open | ||||||||||||||
Franchised | 12 Franchised | All product categories in the 12 Harvey | 06/02/21 | ||||||||||||||
01/02/21 | |||||||||||||||||
Norman® and Domayne® franchised complexes | |||||||||||||||||
Complexes in | Complexes | ||||||||||||||||
across Perth & Peel regions of WA | 29/06/21 | 03/07/21 | |||||||||||||||
Western | |||||||||||||||||
Australia (WA) | Online Trade | Online permitted - all product categories | open | ||||||||||||||
Northern | 2 Franchised | All product categories at the Harvey Norman® | 28/06/21 | 02/07/21 | |||||||||||||
Complexes | and Joyce Mayne® Darwin complexes | ||||||||||||||||
Territory | 1 Franchised Complex | Harvey Norman® Alice Springs - all categories | 30/06/21 | 02/07/21 | |||||||||||||
Overseas Company-Operated Stores: | |||||||||||||||||
12/08/20 | 31/08/20 | ||||||||||||||||
11 Retail Stores and 2 | All product categories in the 11 retail stores | ||||||||||||||||
15/02/21 | 18/02/21 | ||||||||||||||||
New Zealand | Outlets | and 2 outlets in Auckland. | |||||||||||||||
28/02/21 | 07/03/21 | ||||||||||||||||
Online Trade | Online permitted - all product categories | open | |||||||||||||||
12 Retail Stores | All product categories in the 12 retail stores in | 09/05/21 | 12/05/21 | ||||||||||||||
Kuala Lumpur & Penang | |||||||||||||||||
Malaysia | Commenced | ||||||||||||||||
26 Retail Stores | All product categories in the 26 retail stores in | 01/06/21 | limited opening | ||||||||||||||
Malaysia | to customers | ||||||||||||||||
from 21/08/21 | |||||||||||||||||
Online Trade | Online permitted - all product categories | open | |||||||||||||||
1 Retail Store | All product categories at the Westgate Store in | 23/05/21 | 05/06/21 | ||||||||||||||
Singapore | Singapore | ||||||||||||||||
Online Trade | Online permitted - all product categories | open | |||||||||||||||
15 Retail Stores | Furniture & bedding product categories | 22/10/20 | 30/11/20 | ||||||||||||||
Republic of | |||||||||||||||||
Furniture & bedding product categories | 31/12/20 | 17/05/21 | |||||||||||||||
Ireland | |||||||||||||||||
Online Trade | Online permitted - all product categories | open | |||||||||||||||
Northern | 2 Retail Stores | Furniture & bedding product categories | 26/12/20 | 30/04/21 | |||||||||||||
Ireland | Online Trade | Online permitted - all product categories | open | ||||||||||||||
All product categories in the 5 retail stores in | 24/10/20 | 06/11/20 | |||||||||||||||
5 Retail Stores | 16/11/20 | 19/12/20 | |||||||||||||||
Slovenia | Slovenia | ||||||||||||||||
24/12/20 | 15/02/21 | ||||||||||||||||
Online Trade | Online permitted - all product categories | open | |||||||||||||||
Croatia | 2 Retail Stores | Retail trade permitted - all product categories | open | ||||||||||||||
Online Trade | Online permitted - all product categories | open | |||||||||||||||
3
RETAIL TRADING UPDATE:
1 July 2021 to 26 August 2021 vs 1 July 2020 to 26 August 2020 and 1 July 2021 to 26 August 2021 vs 1 July 2019 to 26 August 2019
Aggregated Sales increase / (decrease) from 1 July 2021 to 26 August 2021 vs 1 July 2020 to 26 August 20201 and 1 July 2021 to 26 August 2021 vs 1 July 2019 to 26 August 2019
(% increases have been calculated in Australian Dollars $A)
- comparable sales growth has not been adjusted for the temporary closures mandated by each local government as a result of their COVID-19 Response
COUNTRY | 1 July 2021 to 26 August 2021 vs | 1 July 2021 to 26 August 2021 vs | ||||
1 July 2020 to 26 August 2020 | 1 July 2019 to 26 August 2019 | |||||
Total | Comparable | Total | Comparable | |||
% | % | % | % | |||
Australian Franchisees | (-19.2) | (-19.1) | 11.1 | 11.9 | ||
New Zealand | (-12.3) | (-13.0) | 4.6 | 3.1 | ||
Slovenia & Croatia | 1.4 | (-5.9) | 30.8 | 21.4 | ||
Ireland | 11.1 | 4.7 | 78.8 | 62.0 | ||
Northern Ireland | 2.3 | 2.3 | 31.9 | 31.9 | ||
Singapore | 0.4 | (-9.8) | 3.1 | (-7.0) | ||
Malaysia | (-49.2) | (-52.4) | (-43.9) | (-60.3) |
Aggregated Sales increase / (decrease) from 1 July 2021 to 26 August 2021 vs 1 July 2020 to 26 August 20201 and 1 July 2021 to 26 August 2021 vs 1 July 2019 to 26 August 2019
(% increases have been calculated in local currencies)
- comparable sales growth has not been adjusted for the temporary closures mandated by each local government as a result of their COVID-19 Response
COUNTRY | 1 July 2021 to 26 August 2021 vs | 1 July 2021 to 26 August 2021 vs | ||||||
(% increase calculated | 1 July 2020 to 26 August 2020 | 1 July 2019 to 26 August 2019 | ||||||
in local currencies) | Total | Comparable | Total | Comparable | ||||
% | % | % | % | |||||
Australian Franchisees | $A | (-19.2) | (-19.1) | 11.1 | 11.9 | |||
New Zealand | $NZD | (-13.9) | (-14.6) | 5.6 | 4.1 | |||
Slovenia & Croatia | €Euro | 3.8 | (-3.7) | 32.5 | 23.1 | |||
Ireland | €Euro | 13.7 | 7.1 | 81.4 | 64.3 | |||
Northern Ireland | £GBP | (-1.1) | (-1.1) | 25.9 | 25.9 | |||
Singapore | $SGD | 2.4 | (-7.9) | 9.0 | (-1.8) | |||
Malaysia | MYR | (-47.5) | (-55.0) | (-39.1) | (-57.0) |
Rolling lockdowns in most States and Territories of Australia have affected sales in July and August 2021, even though Contactless Click & Collect and home delivery are operating for customers from 192 Australian franchised complexes. Over 15 million people, or approximately 58% of the Australian population, are currently in lockdown. However, we expect spending to recover quickly as we saw when lockdown restrictions were eased in our overseas markets due to pent-up demand.
Malaysia closed from 1 June 2021 due to large outbreaks of COVID-19 in the country. Malaysian stores commenced limited opening to customers from 21 August 2021. On 18 August 2021, New Zealand went into Level 4 lockdown with no store click and collect permitted, but contactless home delivery allowed. Our other 5 countries have been open in July and August 2021.
With the exception of Malaysia which was significantly affected by the lockdowns during this period, the above post year-end trading update reflects a continued elevated customer demand with solid headline sales growth rates ahead of the comparable period in July and August 2019.
4
The mandatory temporary COVID-19 closures imposed by each local government in Australia from 1 July 2021 are outlined in Table 2 below. Comparable sales in the previous corresponding period were not adjusted for the effect of these mandated temporary closures.
TABLE 2: Government Mandated Temporary Closure Dates | ||||||||||||||
Post Year-End from 1 July 2021 | ||||||||||||||
Date Re- | ||||||||||||||
Affected Product Category | Date | opened / | ||||||||||||
Closed | Forecast Re- | |||||||||||||
opening Date | ||||||||||||||
Australian Franchised Complexes: | ||||||||||||||
39 Franchised Complexes | All product categories in the 39 Harvey Norman® | 16/07/21 | 28/07/21 | |||||||||||
and Domayne® franchised complexes across VIC | ||||||||||||||
Franchised | All product categories in the 17 Harvey Norman® | |||||||||||||
17 Franchised Complexes | and Domayne® franchised complexes in greater | 06/08/21 | TBA | |||||||||||
Complexes in | Melbourne, VIC | |||||||||||||
Victoria (VIC) | 22 Franchised Complexes | All product categories in the 22 Harvey Norman® | 06/08/21 | 10/08/21 | ||||||||||
franchised complexes across regional VIC | ||||||||||||||
21/08/21 | TBA | |||||||||||||
Online Trade | Online permitted - all product categories | open | ||||||||||||
Furniture & bedding categories in the 10 Harvey | 20/07/21 | 28/07/21 | ||||||||||||
Franchised | 10 Franchised Complexes | Norman® franchised complexes in SA | ||||||||||||
Complexes in | Computer & electrical categories in the 10 Harvey | |||||||||||||
South | 21/07/21 | 23/07/21 | ||||||||||||
Norman® franchised complexes in SA | ||||||||||||||
Australia (SA) | ||||||||||||||
Online Trade | Online permitted - all product categories | open | ||||||||||||
Furniture & bedding categories in the 29 Harvey | ||||||||||||||
Norman®, Domayne® and Joyce Mayne® | ||||||||||||||
franchised complexes across Sydney, Blue | 18/07/21 | TBA | ||||||||||||
Mountains, Central Coast, Wollongong & | ||||||||||||||
29 Franchised Complexes | Shellharbour LGAs of NSW | |||||||||||||
Computer & electrical categories in the 29 Harvey | ||||||||||||||
Norman®, Domayne® and Joyce Mayne® | ||||||||||||||
Franchised | franchised complexes across Sydney, Blue | 24/07/21 | TBA | |||||||||||
Mountains, Central Coast, Wollongong & | ||||||||||||||
Complexes in | Shellharbour LGAs of NSW | |||||||||||||
New South | All product categories in the 12 Harvey Norman® | |||||||||||||
Wales (NSW) | From | |||||||||||||
12 Franchised Complexes | and Domayne® franchised complexes within | TBA | ||||||||||||
05/08/21 | ||||||||||||||
specific regional NSW LGAs | ||||||||||||||
All product categories in the 30 Harvey Norman®, | ||||||||||||||
30 Franchised Complexes | Domayne® and Joyce Mayne® franchised | 15/08/21 | TBA | |||||||||||
complexes within the remaining regional NSW | ||||||||||||||
LGAs | ||||||||||||||
Online Trade | Online permitted - all product categories | open | ||||||||||||
Australian | All categories at the Harvey Norman® Fyshwick | |||||||||||||
2 Franchised Complexes | complex and the furniture & bedding categories | 13/08/21 | TBA | |||||||||||
Capital | at the Domayne ® Fyshwick complex | |||||||||||||
Territory | ||||||||||||||
Online Trade | Online permitted - all product categories | open | ||||||||||||
Northern | 2 Franchised Complexes | All product categories at the Harvey Norman® | 16/08/21 | 19/08/21 | ||||||||||
and Joyce Mayne® Darwin complexes | ||||||||||||||
Territory | Online Trade | Online permitted - all product categories | open | |||||||||||
This document was authorised to be provided to the ASX by the Board of Directors of Harvey Norman Holdings Limited.
Yours faithfully
Chris Mentis
Company Secretary / CFO
5
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Harvey Norman Holdings Ltd. published this content on 31 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 August 2021 00:01:03 UTC.