Harvey Norman has joined the throng of downtrodden retailers this year to plaster its financial presentations with the term "omni-channel" in the hope of looking internet savvy, but to founder and chairman Gerry Harvey it's "spin and bullshit".

Amid the worst conditions the retail veteran has seen in more than 25 years, Mr Harvey said today the furniture, bedding and electronics business was booking only about $50,000 to $60,000 a day in online sales despite all the hype around internet shopping.

Tired of it all ... Gerry Harvey doesn't believe the hype around internet shopping. Credit:Ben Rushton

But he felt the pressure to invest in Harvey Norman's omni-channel platform anyway and spruik the company's achievements in developing its online capabilities lest he be labelled a "dinosaur".

"You have to have it, the problem is that as a public company you have got to give the spin, so every company is out there giving the spin and we do the same thing," Mr Harvey told BusinessDay as the company posted a 31.6 per cent drop in full-year net profit to $172.47 million.