Harvey Norman shares have surged by 5.2% after the department store giant reported its stellar results in yesterday’s Annual General Meeting.

On Thursday afternoon, Harvey Norman Holdings Ltd shares were sitting at $4.82.

The retailer’s unaudited profit before tax for the period 1 July to 31 October was up a massive 160.1% compared to the prior period in 2019.

Kogan shares enjoyed a similarly impressive jump after the online retailer approved a $110m bonus for its founder and CEO at its AGM last week.

Kogan shares rose by 4.8% on Thursday to hit $16.30 a share.

The shareholders of Kogan.com voted to approve a controversial $110 million bonus share grant to the company’s founder Ruslan Kogan and CFO David Shafer.