Forecasts for Harvey Norman's FY27 Profit May Need to Come Down
Dow Jones
Aug 28
0110 GMT - Consensus expectations for Harvey Norman's FY27 net profit point to modest growth, which looks optimistic to Jefferies. Harvey Norman's update on trading in FY27 so far was weak, analyst Michael Simotas says. Australian sales fell by 3.4% in July, which is well below market hopes for 1H as a whole. "However, this is difficult to interpret," Jefferies says. "Harvey Norman called out product launch timing impact and pointed to rebound in August written orders." Jefferies had a hold call and A$4.40 price target on Harvey Norman ahead of its FY26 results. Harvey Norman is down 1.2% at A$4.445.
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