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The New Daily
The New Daily
Matthew Elmas

Harvey Norman profits fall as rival JB Hi-Fi booms

Harvey Norman Gerry Harvey JB HiFi Pandemic
Harvey Norman has suffered a decline in net profits after its chief rival reported record earnings.

Billionaire Gerry Harvey’s retail empire has suffered a decline in annual profits as the halo begins to fall off its pandemic boom.

Harvey Norman – a retailer of home appliances, furniture and electronics – posted $811.53 million in after-tax profits for the year ended June 30 on Wednesday, down 3.6 per cent on last year’s result.

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