Markets

JB Hi-Fi has ridden this year’s tax cuts to buck the ‘retail recession’ — but shoppers still need to spend more as conditions worsen

Electronics retailer JB Hi-Fi has managed to avoid the so-called retail recession that is plaguing businesses across Australia, posting impressive full-year growth. A pick up in sales across the retail sector recorded in the last month indicate the positive impact of the government’s tax cuts. However, as conditions continue to […]
JB Hi-Fi has ridden this year’s tax cuts to buck the ‘retail recession’ — but shoppers still need to spend more as conditions worsen
Markets

The hits keep coming for Australian traditional retailers

Retail stocks took a dive after Kogan.com announced a move into whitegoods. The move just adds yet more competitive pressure in a market being eaten into by online retailers, including US giant Amazon. And it comes at a time when a downturn in housing prices means less spending on furniture […]
The hits keep coming for Australian traditional retailers
Markets

JB Hi-Fi shares are tanking after a profit downgrade

Shares in JB Hi-Fi fell hard after the costumer electronics retail downgraded its full year earnings forecast. A short time ago, they were down 7% to $23.77. In a trading update, the company says it now expects full year net profit after tax to be about $230 million, down from […]
JB Hi-Fi shares are tanking after a profit downgrade
Markets

Shares in JB Hi-Fi are tanking

JB Hi-Fi was taking a beating on the ASX after the consumer electronics retail posted a record half year result. AT the close, the shares were down 8% to $25.86. Revenue in the first half to December was up 41% to a record $3.69 billion. Statutory profit after tax was […]
Shares in JB Hi-Fi are tanking
Markets

JB Hi-Fi has beaten the retail crunch again to post record sales

Sales of smartphones, games, drones and computers helped consumer electronics chain JB Hi-Fi to record revenue in the first half, up 41% to $3.69 billion, putting it ahead of its own estimates. Statutory profit after tax was up 37.4% to $151.7 million. CEO Richard Murray says it was a strong […]
JB Hi-Fi has beaten the retail crunch again to post record sales
News

The Amazon effect: JB Hi-Fi now offers same-day delivery

With the news that Amazon will be storming the online-retail-gates of Australia this week, it seems JB Hi-Fi has got on the front foot and unveiled their new speedy delivery options for online customers. These new options will allow items to be delivered same day or, in some circumstances, within […]
The Amazon effect: JB Hi-Fi now offers same-day delivery
Markets

JB Hi-Fi plans to increase sales by 20% this year

JB Hi-Fi expects to increase sales by about 21% to $6.8 billion this year, as the consumer electronic group expands its store network and gains more synergies from its acquisition of The Good Guys. In its annual report, the company says it will open five new JB Hi-Fi stores and […]
JB Hi-Fi plans to increase sales by 20% this year
Markets

Shares of Australian retailers vulnerable to Amazon are taking a hit

Shares in ASX-listed retailers were marked down today after Amazon announced its entry into the Australian market. Those listed retailers analysts seen as vulnerable — JB Hi-Fi, Harvey Norman, Myer and Super Retail — have lost ground. At he close, Harvey Norman was down 3.4% to $4.20, JB Hi-Fi 1.7% […]
Shares of Australian retailers vulnerable to Amazon are taking a hit
Markets

The CEO of The Good Guys has gone following the JB Hi-Fi takeover

Michael Ford, the CEO of The Good Guys, is leaving the home appliance chain after the $870 million takeover by electronics retailer JB Hi-Fi “After 13 years with The Good Guys it was a hard decision to make,” Ford says. “Having been with the business since 2004 and most recently […]
The CEO of The Good Guys has gone following the JB Hi-Fi takeover