Speculation of a big capital return cash splash failed to fire up the Harvey Norman Holdings Limited (ASX: HVN) share price.
Shares in the electronics and furniture retailer tumbled 4.2% to $5.12 this morning when the S&P/ASX 200 Index (Index:^AXJO) fell 0.5%.
Other ASX retailers are also in the red, although not by quite as much. The JB Hi-Fi Limited (ASX: JBH) share price lost 2.7% to $46.60 and the Wesfarmers Ltd (ASX: WES) share price surrendered 1% to $50.41.
Capital return can’t save the Harvey Norman share price
A downgrade by UBS may be the reason for the Harvey Norman share price underperformance. The broker dopped its rating on the…