Harvey Norman May Benefit From Resilient Electrical Retailing -- Market Talk

Dow Jones

2025/01/22

2353 GMT - Resilience in Australian home-electrical retailing could help Harvey Norman could beat first-half earnings expectations, Citi analysts reckon. Opening a 90-day upside catalyst watch on the stock, they write in a note that while they understand that clothing and footwear retailers had to sacrifice margin to generate sales, they have not heard of similar concerns in other categories. They anticipate A$192.1 million in first-half Ebit from Australian franchisees, which is about 4% higher than the average analyst forecast. They support this view with an increased fiscal 2025 forecast for household spending capacity. Citi trims its target price on the stock by 5.5% but maintains a buy rating. Shares are up 1.5% at A$4.83. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

January 21, 2025 18:53 ET (23:53 GMT)

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Opening a 90-day upside catalyst watch on the stock, they write in a note that while they understand that clothing and footwear retailers had to sacrifice margin to generate sales, they have not heard of similar concerns in other categories. They anticipate A$192.1 million in first-half Ebit from Australian franchisees, which is about 4% higher than the average analyst forecast. They support this view with an increased fiscal 2025 forecast for household spending capacity. Citi trims its target price on the stock by 5.5% but maintains a buy rating. Shares are up 1.5% at A$4.83. 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Opening a 90-day upside catalyst watch on the stock, they write in a note that while they understand that clothing and footwear retailers had to sacrifice margin to generate sales, they have not heard of similar concerns in other categories. They anticipate A$192.1 million in first-half Ebit from Australian franchisees, which is about 4% higher than the average analyst forecast. They support this view with an increased fiscal 2025 forecast for household spending capacity. Citi trims its target price on the stock by 5.5% but maintains a buy rating. Shares are up 1.5% at A$4.83. 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Opening a 90-day upside catalyst watch on the stock, they write in a note that while they understand that clothing and footwear retailers had to sacrifice margin to generate sales, they have not heard of similar concerns in other categories. They anticipate A$192.1 million in first-half Ebit from Australian franchisees, which is about 4% higher than the average analyst forecast. They support this view with an increased fiscal 2025 forecast for household spending capacity. Citi trims its target price on the stock by 5.5% but maintains a buy rating. Shares are up 1.5% at A$4.83. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK7153":"综合零售","HVN.AU":"HARVEY NORMAN HOLDINGS LTD","BK7041":"综合货品商店"},"translate_title":"哈维·诺曼可能会从有弹性的电气零售中受益——市场谈话","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"HVN.AU":0.9},"content_text":"2353 GMT - Resilience in Australian home-electrical retailing could help Harvey Norman could beat first-half earnings expectations, Citi analysts reckon. Opening a 90-day upside catalyst watch on the stock, they write in a note that while they understand that clothing and footwear retailers had to sacrifice margin to generate sales, they have not heard of similar concerns in other categories. They anticipate A$192.1 million in first-half Ebit from Australian franchisees, which is about 4% higher than the average analyst forecast. They support this view with an increased fiscal 2025 forecast for household spending capacity. 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