2325 GMT - Harvey Norman's latest trading update indicates that the Australian home appliance retailer has underperformed one of its major rivals, Citi analysts say. They point out that 3.1% on-year like-for-like sales growth at Australian franchisees for July through October compares with 5% for the September quarter at The Good Guys, the white-goods chain owned by JB Hi-Fi. However, they tell clients in a note that many customers are likely holding out for the key Black Friday sales period before committing to major purchases, so they don't draw too many conclusions. Citi keeps a "buy" rating and A$5.50 target price on Harvey Norman shares, which are up 0.7%, at A$4.825. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 26, 2024 18:25 ET (23:25 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。