Australian retailer Harvey Norman falls over 6% on annual profit miss
** Shares of Australian furniture and electronics retailer Harvey Norman HVN.AX fall as much as 6.5% to A$4.57, their worst intraday drop since June 26
** HVN stock trading at its lowest level since Aug 9, marks its fourth straight day in red
** HVN set to end the month down 1.8% after gaining ~15% in July
** Stock is second-biggest loser in the ASX 200 benchmark index .AXJO
** Co logs FY24 statutory net income of A$352.5 mln ($239.56 mln), down ~35% from the prior year and below Visible Alpha consensus of A$365.2 mln
** Says total systems sales revenue A$8.86 bln vs A$9.19 bln in FY23
** Comparable sales in July 2024 were down from a year earlier in most markets except Australia - up 3.3% - and Slovenia & Croatia - up 7.1%
** HVN stock up 12.3% this year, as of last close
($1 = 1.4715 Australian dollars)
Reporting by Sameer Manekar in Bengaluru
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