Harvey Norman : Retail Trading Update

Harvey Norman	A1 RICHMOND ROAD
HOMEBUSH WEST N.S.W. 2140
Holdings Limited	LOCKED BAG 2
SILVERWATER DC, N.S.W 1811
A.C.N. 003 237 545	Telephone: (02)	9201 6111
	Facsimile: (02)	9201 6250

24 November 2021

Australian Securities Exchange Limited

Exchange Centre

20 Bridge Street

SYDNEY NSW 2000

RETAIL TRADING UPDATE:

AGGREGATED SALES REVENUE FOR THE PERIOD

1 July 2021 to 21 November 2021 vs 1 July 2020 to 21 November 2020

DOWN -8.8%

AGGREGATED SALES REVENUE FOR THE PERIOD

1 July 2021 to 21 November 2021 vs 1 July 2019 to 21 November 2019

UP 16.9%

The Directors of Harvey Norman Holdings Limited announce that the aggregated sales revenue from Harvey Norman® wholly-ownedcompany-operated stores in New Zealand, Slovenia, Croatia, Ireland and Northern Ireland, majority-owned controlled company-operated stores in Singapore and Malaysia, and from independent Harvey Norman®, Domayne® and Joyce Mayne® branded franchised complexes in Australia* (Aggregated Sales) decreased by -8.8%for the period 1 July 2021 to 21 November 2021 when compared to Aggregated Sales for the period 1 July 2020 to 21 November 2020. Comparable Aggregated Sales for the period 1 July 2021 to 21 November 2021 when compared to the previous corresponding period, decreased by -9.6%.

Aggregated Sales have been negatively affected by a 2.9% depreciation in the Euro (€), a 1.7% depreciation in the Singaporean dollar ($SGD) and a 2.9% depreciation in the Malaysian Ringgit (MYR) offset by a 2.7% appreciation in the New Zealand dollar ($NZD) and a 3.0% appreciation in the UK Pound (£GBP) for the period 1 July 2021 to 21 November 2021 compared to the period 1 July 2020 to 21 November 2020.

Aggregated Sales increased by 16.9%for the period 1 July 2021 to 21 November 2021 when compared to Aggregated Sales for the period 1 July 2019 to 21 November 2019. Comparable Aggregated Sales for the period 1 July 2021 to 21 November 2021 when compared to the period 1 July 2019 to 21 November 2019, increased by 15.4%.

* Sales made by franchisees in Australia are not made by Harvey Norman Holdings Limited or its controlled entities.

During the current period, two new franchised complexes were opened in Murwillumbah, New South Wales (opening delayed to September 2021 due to NSW lockdowns) and in Port Pirie, South Australia (opened 11 November 2021). There were no new company-operated store openings or closures in overseas regions.

UNAUDITED PRELIMINARY PROFIT BEFORE TAX & NON-

CONTROLLING INTERESTS for the consolidated entity for the period 1 July 2021 to 31 October 2021 vs 1 July 2020 to 31 October 2020

DOWN -35.5%

and

UP 70.1%

when compared to the period 1 July 2019 to 31 October 2019

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Unaudited preliminary accounts for the consolidated entity for the period 1 July 2021 to 31 October 2021 indicate profit before tax and non-controlling interests of $217.42 million compared to $337.11 millionfor the period 1 July 2020 to 31 October 2020, a decrease of approximately -35.5%.

When compared to profit before tax and non-controlling interests for the period 1 July 2019 to 31 October 2019 of $127.84 million, unaudited preliminary profit of $217.42 million for the period 1 July 2021 to 31 October 2021 has increased by approximately 70.1%.

This disclosure is not intended to constitute earnings guidance. The Company does not provide earnings guidance. The COVID-19 pandemic has caused, and continues to cause, great uncertainty about the future economy.

AGGREGATED SALES REVENUE BY COUNTRY

Aggregated Sales increase / (decrease) in Australian Dollars $A - TOTAL SALES:

Aggregated Sales increase / (decrease) from 1 July 2021 to 21 November 2021 vs 1 July 2020 to 21 November 20201 and 1 July 2021 to 21 November 2021 vs 1 July 2019 to 21 November 2019

(% increases have been calculated in Australian Dollars $A)

• comparable sales growth has not been adjusted for the temporary closures mandated by each local government as a result of their COVID-19 Response

	COUNTRY		1 July 2021 to 21 November 2021	1 July 2021 to 21 November 2021
				vs		vs
			1 July 2020 to 21 November 2020	1 July 2019 to 21 November 2019
			Total		Comparable	Total		Comparable
			%		%	%		%
	Australian Franchisees	(-11.3)		(-11.1)	15.0		16.1
	New Zealand	(-5.3)		(-5.7)	13.4		12.1
	Slovenia & Croatia	2.7		(-4.1)	26.4		18.0
	Ireland	5.5		1.3	71.8		55.6
	Northern Ireland	5.8		5.8	23.6		23.6
	Singapore	4.9		(-2.3)	8.0		(-3.9)
	Malaysia	(-15.1)		(-24.6)	(-9.4)		(-29.2)

Aggregated Sales increase / (decrease) in Local Currencies - TOTAL SALES:

Aggregated Sales increase / (decrease) from 1 July 2021 to 21 November 2021 vs 1 July 2020 to 21 November 20201 and 1 July 2021 to 21 November 2021 vs 1 July 2019 to 21 November 2019

(% increases have been calculated in local currencies)

• comparable sales growth has not been adjusted for the temporary closures mandated by each local government as a result of their COVID-19 Response

	COUNTRY			1 July 2021 to 21 November 2021		1 July 2021 to 21 November 2021
	(% increase calculated in				vs			vs
	local currencies)			1 July 2020 to 21 November 2020		1 July 2019 to 21 November 2019
				Total		Comparable		Total	Comparable
				%		%	%	%
	Australian Franchisees	$A	(-11.3)		(-11.1)	15.0	16.1
	New Zealand	$NZD	(-7.8)		(-8.1)	11.9	10.6
	Slovenia & Croatia	€Euro	5.9		(-1.1)	29.0	20.5
	Ireland	€Euro	8.9		4.5	75.6	59.0
	Northern Ireland	£GBP	3.0		3.0	21.3	21.3
	Singapore	$SGD	6.8		(-0.6)	14.5	1.9
	Malaysia	MYR	(-12.7)		(-22.6)	(-2.3)	(-23.6)

Rolling lockdowns in most States and Territories of Australia have affected sales in the months of July 2021 through to November 2021, even though Contactless Click & Collect and home delivery were operating for customers from 194 Australian franchised complexes. Over 15 million people, or approximately 58% of the Australian population, were in lockdown from July 2021 until the respective State Governments eased lockdown restrictions upon reaching certain vaccination milestones.

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The mandatory temporary COVID-19 closures imposed by each local government from 1 July 2021 to 21 November 2021 are outlined in Table 1 for Australian Franchised Complexes and Table 2 for Overseas Company-Operated Stores below. Comparable sales in the previous corresponding period were not adjusted for the effect of these mandated temporary closures.

TABLE 1 AUSTRALIA: Government Mandated Temporary Closure Dates

1 July 2021 to 21 November 2021

Affected Product Category

Date

Date

Closed

Re-opened

Australian Franchised Complexes:

39 Franchised Complexes

All product categories in the 39 Harvey Norman®

16/07/21

28/07/21

and Domayne® franchised complexes across VIC

All product categories in the 17 Harvey Norman®

17 Franchised Complexes

and Domayne® franchised complexes in greater

06/08/21

29/10/21

Melbourne, VIC

22 Franchised Complexes

All product categories in the 22 Harvey Norman®

06/08/21

10/08/21

From

franchised complexes across regional VIC

21/08/21

10/09/21

1 Franchised Complex

All product categories in the Harvey Norman®

15/09/21

23/09/21

Franchised

franchised complex at Ballarat

Complexes in

All product categories in the 2 Harvey Norman®

Victoria (VIC)

2 Franchised Complexes

franchised complexes in the City of Greater

20/09/21

27/09/21

Geelong

3 Franchised Complexes

All product categories in the 3 Harvey Norman®

29/09/21

06/10/21

franchised complexes in the City of Latrobe

1 Franchised Complex

All product categories in the Harvey Norman®

01/10/21

09/10/21

franchised complex at Shepparton

1 Franchised Complex

All product categories in the Harvey Norman®

10/10/21

22/10/21

franchised complex at Mildura

Online Trade

Online permitted - all product categories

open

Furniture & bedding categories in the 10 Harvey

20/07/21

28/07/21

Franchised

10 Franchised Complexes

Norman® franchised complexes in SA

Complexes in

Computer & electrical categories in the 10 Harvey

South

21/07/21

23/07/21

Norman® franchised complexes in SA

Australia (SA)

Online Trade

Online permitted - all product categories

open

Furniture & bedding categories in the 29 Harvey

Norman®, Domayne® and Joyce Mayne®

franchised complexes across Sydney, Blue

18/07/21

11/10/21

Mountains, Central Coast, Wollongong &

29 Franchised Complexes

Shellharbour LGAs of NSW

Computer & electrical categories in the 29 Harvey

Norman®, Domayne® and Joyce Mayne®

Franchised

franchised complexes across Sydney, Blue

24/07/21

11/10/21

Mountains, Central Coast, Wollongong &

Complexes in

Shellharbour LGAs of NSW

New South

Wales (NSW)

All product categories in the 12 Harvey Norman®

From

From

12 Franchised Complexes

and Domayne® franchised complexes within

05/08/21

11/09/21

specific regional NSW LGAs

All product categories in the 30 Harvey Norman®,

30 Franchised Complexes

Domayne® and Joyce Mayne® franchised

From

From

complexes within the remaining regional NSW

15/08/21

11/09/21

LGAs

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TABLE 1 AUSTRALIA: Government Mandated Temporary Closure Dates

1 July 2021 to 21 November 2021 (continued)

Affected Product Category

Date

Date

Closed

Re-opened

Australian Franchised Complexes:

2 Franchised Complexes

All product categories in the 2 Harvey Norman®

16/09/21

23/09/21

franchised complexes at Albury and Lismore

1 Franchised Complex

All product categories in the Harvey Norman®

18/09/21

01/10/21

franchised complex at Young

All product categories in the 2 Harvey Norman®

Franchised

2 Franchised Complexes

franchised complexes at Murwillumbah and

22/09/21

29/09/21

Tweed Heads

Complexes in

New South

All product categories in the 2 Harvey Norman®

From

Wales (NSW)

2 Franchised Complexes

franchised complexes at Port Macquarie and

29/09/21

05/10/21

(continued)

Muswellbrook

1 Franchised Complex

All product categories in the Harvey Norman®

03/10/21

11/10/21

franchised complex at Lismore

All product categories in the 3 Harvey Norman®

3 Franchised Complexes

franchised complexes at Gunnedah, Taree and

04/10/21

11/10/21

Forster

Online Trade

Online permitted - all product categories

open

Franchised

All categories at the Harvey Norman® Fyshwick

Complexes in

2 Franchised Complexes

complex and the furniture & bedding categories

13/08/21

22/10/21

Australian

at the Domayne ® Fyshwick complex

Capital

Territory

Online Trade

Online permitted - all product categories

open

(ACT)

Franchised

2 Franchised Complexes

All product categories at the Harvey Norman®

16/08/21

19/08/21

Complexes in

and Joyce Mayne® Darwin complexes

Northern

Territory (NT)

Online Trade

Online permitted - all product categories

open

Franchised

All product categories in the 4 Harvey Norman®

4 Franchised Complexes

and Domayne® franchised complexes across

16/10/21

19/10/21

Complexes in

Southern Tasmania

Tasmania

(TAS)

Online Trade

Online permitted - all product categories

open

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TABLE 2 OVERSEAS: Government Mandated Temporary Closure Dates

1 July 2021 to 21 November 2021

Affected Product Category

Date

Date

Closed

Re-opened

Overseas Company-Operated Stores:

9 Retail Stores and 4

All product categories in the 9 retail stores

18/08/21

10/11/21

Outlets - Auckland

and 4 outlets in Auckland.

Online permitted - all product categories for

21/09/21

(Click & Collect

Online Trade - Auckland

contactless home delivery only. Click & Collect

18/08/21

permitted from

not permitted.

22/09/21)

New Zealand

27 Retail Stores and 3

Commenced

All product categories in the 27 retail stores and 3

limited opening

Outlets - Outside

18/08/21

outlets outside of Auckland.

to customers

Auckland

from 07/09/21

Online permitted - all product categories for

31/08/21

Online Trade - Outside

(Click & Collect

contactless home delivery only. Click & Collect

18/08/21

Auckland

permitted from

not permitted.

01/09/21)

Commenced

26 Retail Stores

All product categories in the 26 retail stores in

01/06/21

limited opening

Malaysia

Malaysia

to customers

from 21/08/21

Online Trade

Online permitted - all product categories

open

14 Retail Stores

Retail trade permitted - all product categories

open

Singapore

Online Trade

Online permitted - all product categories

open

Republic of

15 Retail Stores

Retail trade permitted - all product categories

open

Ireland

Online Trade

Online permitted - all product categories

open

Northern

2 Retail Stores

Retail trade permitted - all product categories

open

Ireland

Online Trade

Online permitted - all product categories

open

Slovenia

5 Retail Stores

Retail trade permitted - all product categories

open

Online Trade

Online permitted - all product categories

open

Croatia

2 Retail Stores

Retail trade permitted - all product categories

open

Online Trade

Online permitted - all product categories

open

This document was authorised to be provided to the ASX by the Board of Directors of Harvey Norman Holdings Limited.

Yours faithfully

Chris Mentis

Company Secretary / CFO

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