The Harvey Norman Holdings Ltd (ASX: HVN) share price is up after the ASX retail share gave a trading update at its 2025 annual general meeting (AGM).
Harvey Norman is one of the larger retailers on the ASX with a significant network of franchise stores across Australia. It also has a company-operated presence in New Zealand, Slovenia, Croatia, Ireland, the UK, Singapore and Malaysia. Additionally, it has Domayne and Joyce Mayne franchise stores in Australia.
FY26 trading update
The company revealed how each of its markets performed in the period between 1 July 2025 to 20 November 2025 compared to the previous year. The following growth figures are in Australian dollar terms.
Australian franchisees saw aggregated sales growth of 6.5% year on year, with comparable growth of 6.4%.
New Zealand sales increased by 8.2% year on year with 6.3% comparable growth.
Slovenia and Croatia total and comparable sales grew by an impressive 25.3%.
Ireland total and comparable sales increased by 17.9% year on year.
The UK total sales grew by 123.6%, with comparable sales growth of 22.2%.
Singapore sales rose by 12.3% with comparable sales growth of 8.5%.
Finally, Malaysia sales grew 17.1%, with 11.4% comparable sales growth.
Putting all those segments together, the company reported that total aggregated sales were up 9.1% year on year across the business.
The company noted that its aggregated sales have been positively boosted in Europe, the UK, Singapore and Malaysia by an appreciation of those respective currencies. However, there was a slight depreciation of the New Zealand dollar.
Harvey Norman said that two new company-operated stores were recently opened, one in Singapore and one in Kuala Lumpur, However, this was offset by one closure in Singapore and one closure in New Zealand.
The ASX retail share now has a total of 121 overseas company-operated stores.
Final thoughts on the Harvey Norman share price
The company continues to perform strongly, with solid growth in Australia and significant progress overseas. The strong comparable sales growth bodes well for a good FY26 result if it’s able to continue these sorts of growth numbers.
I don’t think I can call Harvey Norman shares a buy considering it’s up more than 50% in the past year, despite its strong performance. I think the right time to buy ASX retail shares is when there are market worries about retail spending. I’m waiting on the sidelines for other opportunities in the ASX growth shares space.
