Harvey Norman Holdings Limited (ASX: HVN) provided retail update revealing that the company’s in Australia business has been in form.
- HVN Australian Franchisees network delivered a rise of 17.5% in sales in 2H20 to 31 March 2020 with FY20 YTD sales up by 7.4% on pcp.
- Only 2 franchised complexes in Tasmania were shut down for 2 weeks due to Tasmania’s government orders on mandatory closure of the area
- Other Australian franchised complexes remained open during the coronavirus crisis
- Overseas operations were not as good because majority of the stores were forced to close
HVN decided to pay a fully franked special dividend of 6.0¢ per share on 29 June to shareholders who are listed at close of business on 23 June 2020.