Harvey Norman stock faces retail warning from founder Gerry Harvey
Published on 11/06/2026 at 20:48 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSRetail pressure moves into focus
- Gerry Harvey said the era of department stores may be ending as shoppers shift toward online and specialist retailers.
- Harvey Norman reported higher fiscal-year sales revenue and profit before tax through June 30.
- The company is preparing for its annual general meeting on November 25, 2026.
Harvey Norman founder Gerry Harvey has warned that Australia's traditional department-store model is under severe pressure after David Jones collapsed. In remarks reported by news.com.au on Friday, November 6, Harvey said, "The day of the department store is probably over."
Harvey also said furniture and electrical retailers were facing extreme pressure and that retailers were nearly all seeing weaker figures. He linked the shift to changing consumer preferences, online shopping and the specialist-store model. The comments were made against the backdrop of David Jones seeking to continue with a smaller business model after years of losses and declining consumer traffic.
Retail pressure moves into focus
The remarks are relevant to Harvey Norman because the group operates in furniture and electrical retail while also owning property assets. They highlight the broader industry challenge of keeping stores productive as consumers become more selective and online competition intensifies.
The same report said Harvey Norman's sales revenue for the financial year through June 30 rose 3.1 percent to 9.64 billion, while profit before tax increased 4.9 percent to 720.29 million. Those figures provide a stronger recent operating backdrop, but Harvey's comments underline the pressure facing the retail environment in which the group operates.
The real-time quote of Harvey Norman stock traded at 2.74 euros on Lang & Schwarz at 8:41 p.m. Berlin time on Friday, November 6.
Harvey Norman stock at a glance
- Company: Harvey Norman Holdings
- ISIN: AU000000HVN7
- Lang & Schwarz quote: 2.74 euros on November 6, 2026, at 8:41 p.m. Berlin time
- Fiscal-year sales revenue: 9.64 billion, up 3.1 percent
- Profit before tax: 720.29 million, up 4.9 percent
- Annual general meeting: November 25, 2026
The Euro Stoxx 50 offers a broader regional market backdrop, although Harvey Norman is an Australian company.
