The electronics and furniture retailer has suffered across its Singapore and Malaysia store networks.
Across Singapore, Harvey Norman suffered an 18 per cent decline in sales and whilst the Coronavirus pandemic can be attributed to the second part of the year, the first half of the year was also poor with sales down by 11.9 per cent. The 12 company-operated stores across Singapore closed their doors on April 7 and these still remain closed due to government guidance. The company is still operating online and hopes that later this month they will be able to reopen their physical stores.
In Malaysia, the company’s sales were down 4.2 per cent year on year for the six months however up 6.5 per cent for the full due to a strong 15 per cent uptake in the first half of the year. The company closed its 23 stores from March 18 to April 17 as per government requirements. Unlike in Singapore, they have been able to gradually reopen their stores.
