2348 GMT - Harvey Norman's shares move higher following its 1H result as Jefferies expected, but the bank worries the retailer is losing share to its chief rivals. Harvey Norman's total sales rose by 5.5% in Australia during 1H. Analyst Michael Simotas says this growth was below the 7.2% achieved by JB Hi-Fi Australia and the 9.2% improvement by the Good Guys. Harvey Norman's sales growth again lagged those competitors in January. February was much better albeit not a big month seasonally, he adds. Harvey Norman is up 3.5% in early trading today. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
February 27, 2025 18:48 ET (23:48 GMT)
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