CE Helps Harvey Norman To 18% Sales Increase
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Harvey Norman Holdings has reported a sales increaseof 18 per cent to $1.666 billion in the four months to October 31. A key contributor was CE technology and entertainment products and services.

 The sales included revenue from its Australian, New Zealand, Slovenian and Irish stores but excluded Singapore and Rebel Sport Ltd operations.

Like for like sales for the four months ending October 31 rose 7.9 per cent compared with the same period last year.

In related news, Harvey Norman-controlled retailer Rebel Sport said its group sales revenue for the four months ended October 28 increased 15.6 per cent to $119.1 million.

This compared with the four months ended 29 October 2005, including sales revenue from the Glue lifestyle stores.

Sales on a same store basis for the same period increased by 11.2 per cent.

Rebel’s group sales revenue for the three weeks ended November 18 increased 12.1 per cent when compared with the three weeks ended November 19, 2005.

This also included sales revenue from the Glue lifestyle stores.

Sales on a same store basis for the same period increased 9.6 per cent.

Rebel Sport Limited currently has 63 Rebel Sport stores and 10 Glue stores.

Rebel Sport shares were down 4 cents to $4.46, at 10.35am today, well below last month’s $4.60 per share take over bid from Archer Capital which has the support of Harvey Norman.

Harvey Norman shares were 6c higher at $3.95.

AAP