Billionaire founder of Harvey Norman says his retailer defeated David Jones and Myer in sales – while destroying political correctness and gender quotas
- Millionaire founder of Harvey Norman said that his retailer defeated the will of Myer
- Despite criticism of a lack of diversity in the boardroom, he had a better turnover
- Harvey Norman's earnings increased 7.2 percent to $ 402.3 million in FY 2019
Harvey Norman's billionaire founder has said that his retailer may not match Myer and David Jones in terms of boardroom diversity, but they are winning in sales.
Gerry Harvey said his company reported a 7.2 percent profit increase for the 2019 financial year to $ 402.3 million – despite a & # 39; flat & # 39; market and declining sales of franchise stores.
He told Newscorp that Myer and David Jones may have a better track record in terms of gender quotas, but that stores have hit & # 39; s *** & # 39; for sale.
Gerry Harvey (pictured with wife Katie Paige) has said his company has reported a profit increase of 7.2 percent for the 2019 financial year to $ 402.3 million – despite a & # 39; flat & # 39; market and declining sales of franchise stores
The South African owners of David Jones said earlier this year that the country is in a & # 39; retail recession & # 39; wrong one.
However, other bosses in the retail trade hit back, including the head of JB Hi-Fi Richard Murray, who said it was a matter of department stores struggling to find their place in the changing market.
Mr. Harvey weighed in the debate and said David Jones would be a great retailer today if he had bought the company 20 years ago and had his wife and current Harvey Norman boss Katie Paige run the company.
& # 39; Myer and David Jones are two large department stores that get smaller and smaller each year. Then you look at what happened to department stores in some other countries that are doing pretty well. & # 39;
& # 39; Look at the ownership and management of those companies – why are they doing well and not the Australian ones? & # 39;
Harvey Norman's billionaire founder said that his retailer may not match Myer and David Jones in terms of boardroom diversity, but they are winning in sales.
Mr. Harvey said his company was criticized for a lack of independent and female board members by shareholders and superannuation agencies, while companies like Myer and David Jones were not.
But he said those companies had a revolving door of drivers who were largely independent and who & # 39; never sold a sock & # 39 ;.
He wondered why they pushed what he called an agenda and said his company did something wrong when they were more successful.
The company plans to expand its number of international stores with plans for 21 new stores internationally in the next two years in places such as Malaysia and Singapore.
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