Harvey Norman, Chaired by Gerry Harvey, Has Posted a 45.7 Per Cent Fall. Poor Gerry!

MMM on 05/05/2024 - 10:34
Last edited 08/05/2024 - 08:47 by 1 other user

Sales, dividend down as retail slump hits Harvey Norman

…The Gerry Harvey-chaired company on Thursday reported a 45.7 per cent dip in pre-tax profit to $283.6 million for the six months to December 31. After tax, the bottom line profit was $202.8 million, down from $369.8 million. Despite outperforming consensus expectations, Mr Harvey was "not that happy" with the result.

So decide on a poll to see if there is still some love for Gerry and HN.
When was your last purchase?

Edit: I think this comment sums up the poll best!

https://www.ozbargain.com.au/node/844376?page=1#comment-1524… @paloverde88 on 07/05/2024 - 22:43

"HN was doing well back in those days 20 years ago, now there's far too many options to buy to compare prices consumers are more knowledgeable and smarter the only ones going to HN is for the stupid Latitude finance plans.
I would never buy anything from HN nowadays. I don't like pressure I don't like finance deals and I don't think many of HN staff are tech incline and they are 99% salespeople 1% tech They are sort of an odd type store, they are not superstore status like officeworks, they are not niche like JB, not classy like DJ and they are not pocket deep like Apple stores so they are sort of like the now dead Godfreys and if not they are slowly heading that direction."

Poll Options expired

  • 16
    Last two weeks:
  • 20
    Last two Months:
  • 21
    NO Bargains, at HN:
  • 559
    Cant remember:
Electrical & Electronics

Related Stores

Harvey Norman
Harvey Norman

Comments

    • beefmaster on 08/05/2024 - 09:51
      +1

      I used to work in HN on after sales and one of the sales (top sale person in Australia) mark up a laptop by $300 because the pensioner do not have a clue.

  • Pigey on 06/05/2024 - 12:19
    +1

    As much as we all may dislike Harvey Norman and wish for their demise, it's important to recognize that they provide competition for JB Hi-Fi and TGG, which essentially are the same business.

    Occasionally, their sale and stocktake items are cheaper due to being on a different cycle than JB and TGG.
    Consequently, for a given product needed on the same day, they may offer a better price.

    As much as we hate to think it, overall, consumers would benefit from HN sticking around.

    • Drakesy on 06/05/2024 - 15:20
      +2

      This is true, now that JB owns TGG they're almost running a monopoly.

    • buckster on 06/05/2024 - 18:54
      +3

      Yep, without HN we'd have no competition. Sucks that JB was allowed to buy TGG

  • Seaeagles on 06/05/2024 - 12:31
    +5

    I haven't brought anything from HN in over a 10 years and don't see that changing.
    The last time I stepped into HN was to see the price of a fridge I was planning on buying.
    Bing Lee was roughly $300 cheaper and I asked HN would they price match and got told no we cant do that but they kept pushing to buy from them and said I would be better off buying at HN as their price has a $50 in store voucher included.

    I said so I will be $250 worse off buying it here and the salesman said no you won't as Bing Lee aren't going to give you a $50 voucher like we are.

  • Ziggy28 on 06/05/2024 - 13:36
    +2

    I bought a couple of USB sticks that was on clearance, that must have been well over 7 years ago

  • denz02 on 06/05/2024 - 14:47
    +2

    Luckily I didn't quit my job and invested into HN shares as he said few years ago.

  • JimB on 06/05/2024 - 15:47

    Harvey Norman have the best photo prints (Fujifilm) out of all the majors.

    The Australian made furniture on the showroom are also good quality, most of which are made exclusively for for HN.

    But the last time I've made a purchase from them was years ago, maybe a decade.

    Applianceonline is my default whitegoods retailer.

  • qwijibo on 06/05/2024 - 15:56
    +2

    I don't think anyone needs to worry about poor Gerry. His political mates will organise some sort of GerryKeeper tax payer funded rescue scheme to bail him out.

    • Thorn69 on 06/05/2024 - 16:05
      +4

      highly likley, hes the reason why were paying GST fees on almost every large website world wide now

  • Thorn69 on 06/05/2024 - 16:04
    +1

    dont feel sorry for Gerry i hope his whole business disappears hes a money grubbing Pric#

  • cordsplace on 06/05/2024 - 16:54
    +1

    I've never quite worked out why Gerry get all the wrath and unkind words particularly on this site. I/We buy nearly all our electrical stuff from HN and occasionally a lounge suite too. I know the staff at my "store" and I get OK deals. I check prices before I buy and if others are cheaper I buy from them or HN meets the price. Any claims under warranty have been dealt with quickly and positively. I'm sure Gerry will not disappear but will be around for many years to come.

    I had a laugh at some of the comments. Pretty disrespectful in many ways and unkind in others. Obviously from pillars of society.

    • ph81 on 06/05/2024 - 17:53
      +2

      It's not the actual store owners or workers, it's the fact that Gerry took so much taxpayer money, "just because he could." Store owners should be giving it to him about how he screwed them.

    • MMM on 06/05/2024 - 19:35
      +2

      "A long time ago in a galaxy far, far away…." the emperor Gerry Palpatine, sorry got carried away … but you can read about it here https://www.ozbargain.com.au/node/89421

      The long and the short is the evil emperor ;) of HN advertised a device. OZB people purchased and then he claimed we ripped him off and that we are professionals taking advantage of his kind nature and not consumers? We purchased in good faith and it turned out that it was a price error, so no problem we got our purchase refunded but he named OZB as professionals which we now wear with pride. Also Gerry been the constant whinger every time a new entity as in Amazon, Aliexpress etc gave him a bit of competition he would run to the government and want help, wish I could do that in running my small business.

  • pformag on 06/05/2024 - 17:08
    +1

    If they have the item I want and the cheapest price, then I would buy from them.

  • DiscoJango on 06/05/2024 - 17:46
    +2

    I find it interesting when people feel sorrow for millionaires who cry poor. In this case, a billionaire.

    • Cluster on 07/05/2024 - 16:12
      +2

      They think they're temporarily embarrassed millionaires. That their turn will come, it's just that 'they' and 'them' is holding them down at the moment.

  • ph81 on 06/05/2024 - 17:50
    +1

    Ordered a TV through them begrudgingly and the Samsung came to the rescue and offered it half of the price. Went and cancelled Gerry, got deposit back and went to Samsung.
    In all fairness they refunded deposit no questions asked.
    People never forgot him taking millions for SFA for Jobkeeper. Haven't bought a thing there since that happened and probably won't if I can help it.

  • mousie on 07/05/2024 - 06:16
    +3

    I can't stand Gerry Harvey.

    But despite my intentions to boycott him, my house has AEG washer, dryer, dishwasher. Bought from HN over the phone during lockdown.

    They had the best value proposition at the time with the electrolux onsite warranty. And the purchase was approx 6k. I've had to use the service on each appliance.

    Not a fan of Samsung or lg whitegoods.

    I recognise the fact that they are a franchise business model and the poor migrant who bought the franchise probably isn't even drawing a living wage from it after system costs and operational expenses.

    But my Oled was appliances online from an OzBargain deal.

    I browsed HNs furniture range few years ago. It was crap.

    So we purchased 8k lounge suite from Nick Scali.

    • Grunntt on 10/05/2024 - 10:37

      the poor migrant who bought the franchise probably isn't even drawing a living wage from it

      Do you really believe that any HN franchises are owned by 'poor migrants'?

  • GodsSon23 on 07/05/2024 - 08:00
    -5

    Wow. More hate for Harvey Norman. So original, OP. What next? A poll about Ubisoft?

  • DefariumZ on 07/05/2024 - 08:56

    Made the grand mistake of buying from them 2.5 years ago - new 65" TV.
    They lied on advertising and used the "US" specs page which are wildly different to the Aus-spec TV (exact same model name - go figure).

    So I asked for a store credit and to take the TV back - told to come in on a Saturday as the manager would be there….came Saturday, "sorry Manager isn't here, come Wednesday". Came Wednesday "no, he's on holiday sorry"….we sold the piece of crap for a couple hundy loss on FB Marketplace (with the correct specs sheets for Aus) and bought from VideoPro….

    Got a call about 8 months later "Heyy, did you want to come in and refund the TV?"
    Parents had similar experiences ~15 years ago.

    good riddance….

  • BozzaTheMan on 07/05/2024 - 17:25

    I sometimes go and buy in HN because they are the only ones that have stock. They match the price as well. If it wasn't for that I would never step foot in it.

  • paloverde88 on 07/05/2024 - 22:43
    +4

    HN was doing well back in those days 20 years ago, now there's far too many options to buy to compare prices consumers are more knowledgeable and smarter the only ones going to HN is for the stupid Latitude finance plans.
    I would never buy anything from HN nowadays. I don't like pressure I don't like finance deals and I don't think many of HN staff are tech incline and they are 99% salespeople 1% tech They are sort of an odd type store, they are not superstore status like officeworks, they are not niche like JB, not classy like DJ and they are not pocket deep like Apple stores so they are sort of like the now dead Godfreys and if not they are slowly heading that direction.

    • MMM on 08/05/2024 - 08:02

      Insightful comment and my thoughts exactly, I think the poll reflects that HN are failing to be relevant. Gerry was a seriously good salesman but sadly a one trick pony and that worked 20 years ago but the grip on ultimate power has clouded his judgement. He moved into the property business and has the dollars behind him but his retail in Australia is heading towards a Godfreys.

  • gviddy on 08/05/2024 - 11:04

    I do not like the way they try to push extended warranties on you. Many years ago I bought a laptop and the sales person was actually starting to get mad at me because I wouldn't add the extended warranty to the purchase.

  • Ultimate Gattai on 14/05/2024 - 00:06

    I remember more than a quite few years ago when Crypto miners were snatching up all the cards, I went to see if Harvey Normans sold GPUs, I asked the worker there who took me over to the USB sticks… She must have seen the sour look on my face and realised she goofed up (she apologised and admitted she didn't know what a graphics card was).

    About 8 or so years ago, when my father was alive, we bought him a single bed from there, I did try other furniture stores in town, but mum really wanted the cheapest option, which, surprisingly was actually Harvey Normans for once (I live in a rural area, so we only had a few shops to choose from). I just avoid Harvey Norman out of principle, especially after they pocketed Job Keeper and only returned half of what they unjustly took.

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