Australia's Harvey Norman says sales up 6.4 pct
MELBOURNE, May 13 (Reuters) - Australian electrical goods and furniture retailer Harvey Norman Holdings Ltd (HVN.AX: Quote, Profile, Research, Stock Buzz) said on Tuesday total sales for the four months to April 30 rose 6.4 percent, as consumers eased back on big-ticket purchases.
Same-store sales rose 2.5 percent in the four months, down sharply from growth of 7.9 percent in the second quarter as consumers became more frugal under the weight of rising mortgage payments and higher food and petrol prices.
Goldman Sachs JB Were had forecast like-for-like sales growth of 4.0 percent and ABN AMRO forecast 2.1 percent.
Shares in Harvey Norman have slumped 47 percent this year on worries about a slide in consumer spending and closed on Monday at A$3.59. ($1=A$1.06) (Reporting by Victoria Thieberger)
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