Retail a tough gig.

[Silverthorn]

Retails a tough gig when Harvey struggles.

Harvey Norman: Crisis approaching?

A year ago, Intelligent Investor still had a positive recommendation on Harvey Norman.

But last July, after four quarters of negative same-store sales growth, it was time to admit something was wrong.

Since then, the deterioration has accelerated. Same-store sales in Australia fell almost 10% in the second quarter, a decline reminiscent of an economic depression.
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But the Australian economy isn't in recession.

As you'd expect with a sales decline of that magnitude, the 2012 first-half result was a shocker. There were several aspects of particular concern.

http://www.smh.com.au/business/inte...norman-crisis-approaching-20120312-1uu4h.html

 

[QLDSILVER]

Good, that pri*k has been stealing from hard working Australians for years, the service has always been crap, the vast majority of products crap, and his attempts to put another tax on Australians who had had enough and were buying online disgusting.

Good riddance you thieving slug.

 

[hiho]

yeah the man lost all credibility in my mind when he wanted to glean us out of more tax, I suprised Labor didnt adopt his idea

 

[Silverthorn]

Yeah, I got a family member impacted indirectly.

 

[Clawhammer]

There's a hell of an oppourtunity for someone else to take up the market share!

 

[QLDSILVER]

Yeah mate agree totally, I was remiss in not saying that.

+1

 

[CriticalSilver]

Retail has fallen off the cliff since 2008 and hasn't come back, except for spurts of government stimulus and a little kick during the consecutive RBA interest rate cuts.

I can't wait to see what impact the new taxes will have in July.

 

[Nugget]

yeah the man lost all credibility in my mind when he wanted to glean us out of more tax, I suprised Labor didnt adopt his idea

I saw red when Gerry, one of Australia's wealthiest men, tried to get the taxpayer to foot the bill to improve his horse stables.