Harvey Norman Holdings Limited (ASX:HVN) is an integrated retail, franchise and property enterprise with operations throughout Australia, New Zealand, Singapore, Malaysia, Slovenia, Ireland and Northern Ireland.

Like many Australian retailers, HVN is feeling the pain of a strong $A, increasing consumer conservatism, under-performing overseas operations and rising pressures to compete with discount online operators. Harvey Norman’s Chairman, Gerry Harvey, has been a vocal advocate for struggling traditional retailers in Australia.

While cyclical issues will eventually abate, retailing in Australia is facing structural headwinds to which older established “bricks and mortar” retailers such as HVN must adapt.

Although not a company that stands out as a top quality long term investment to us due to the abovementioned structural issues, HVN owns a large property portfolio and at current prices is worth a brief analysis.

>> click to read the full Harvey Norman Holdings Report You must be a MyClime subscriber, or have signed up for a FREE TRIAL