JB Hi-Fi Group reported stellar sales results for the first half of the 2021 financial year. In the company’s preliminary, unaudited financial results, it reported $4.9 billion in sales, an increase of 23.7%. Sales were boosted by the demand for household appliances and electronics. Visit Business Insider Australia’s homepage for […]
JB Hi-Fi and Kogan have seen a jump in sales during the coronavirus pandemic. JB Hi-Fi reported an 11.6% rise in sales across its group to $7.9 billion. Kogan reported $768.9 million in gross sales – up 39.3% from the 2019 financial year. Visit Business Insider Australia’s homepage for more […]
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 […]
Costumer electronics retailer JB Hi-Fi posted a 35.2% rise in full year net profit after tax to $233.2 million, a record result in a weak retail market. Revenue at the group, which includes home appliance chain the Good Guys, was up 21.79% to $6.85 billion. The company says the strong […]
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 […]
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 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 […]
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 […]
Plans for a flagship Apple store in Melbourne’s Federation Square, announced late last year by the Victorian government, have plenty of people riled up in opposition to the project. Since Premier Daniel Andrews announced it just before Christmas, his Facebook page has attracted nearly 3,000 comments, many of them berating […]
JB Hi-Fi, the Australian consumer electronics chain, has made it into the top 250 global retailers, bringing the number of Australian companies listed to three. The Deloitte Global Powers of Retailing report, now in its 21st year, puts JB Hi-Fi’s in the global ranks after its acquisition of The Good […]
Amazon Australia opened as a general store this morning, amid predictions from experts that it would initially undercut and absorb losses to establish market share. Industry research firm IBISWorld even put a number to it, last month saying the US retailer would undercut Australian rivals to the tune of 30%, […]
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 […]
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 […]
Consumer electronics retailer JB Hi-Fi has again defied the retail slowdown, posting a 13.2% rise in full year net profit of $172.4 million as revenue jumped 42% to a record $5.62 billion. In Australia, total sales grew by 10.9% to $4.15 billion, with comparable sales up 8.6%. For the whitegoods […]
Morgan Stanley has just downgraded a series of ASX-listed Australian retailers after completing a deep analysis on the coming impact of Amazon. The global investment bank estimates Amazon will generate $12 billion of sales by 2026 with five distribution centres established across Sydney, Melbourne and Brisbane. “Since the announcement of […]
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% […]
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 […]
