latest news [HPQ] Hewlett-Packard up 1.8% at $34.61
Harvey Electronics quarterly sales fall 15.5%
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Last Update: 4:14 PM ET Aug 11, 2006
SAN FRANCISCO (MarketWatch) -- Harvey Electronics Inc. (HRVE : harvey electronics inc com
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Last: 0.58+0.04+7.41%
2:11pm 08/16/2006
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HRVE0.58, +0.04, +7.4%) after Friday's closing bell said third-quarter sales dropped 15.5% to $7.6 million. The Lyndhurst, N.J.-based retailer said comparable store sales fell $1.7 million, or 18.9%. The company said the drop in revenue is due to a reduction in store traffic, increased competition and continuing flat panel product shortages, among other factors. Harvey added that it expects to report a higher loss from operations for the nine months and third quarter ended July 29, compared with the same periods last year.
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