Harvey Norman says government-mandated lockdowns and store closures impacted profits in the first half of the financial year.
The furniture and appliances retailer has reported a 3.6% drop in profit for FY22.
The results contrast rival JB Hi-Fi, which earlier this month posted record earnings and sales in the same period.
However Chairman Gerry Harvey is optimistic about how the retailer is going, saying the company is well placed to benefit from pandemic-inspired construction and renovation activity.
The company also plans to ?ramp up? its offshore expansion plans and open four new company-operated stores in the next year.
Harvey Norman didn?t provide any new earnings guidance today and investors are selling out of shares.
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