JB Hi-Fi Must Be Still Selling A Lot Of Games And Consoles

JB Hi Fi Must Be Still Selling A Lot Of Games And Consoles Shannon Grixti

JB Hi Fi Must Be Still Selling A Lot Of Games And Consoles Shannon Grixti

The New Zealand division reported negligible earnings before interest and tax in the six months ended December 31, compared to $1 million a year earlier, which included $400,000 of costs from closing a store, and exiting and rebranding its JB Hi-Fi Home stores, the Melbourne-based company said in a statement.

JB Hi-Fi has increased its interim dividend by 19.4 per cent to 86 cents per share, fully franked.

JB Hi-Fi has pushed aside any concerns around Amazon'spre-Christmass arrival.

Comparable sales in New Zealand increased by 2.4 per cent.

JB Hi-Fi's Solutions business nabbed "double digit" sales growth, which the retailer states is on track to hit a long-term aspirational sales target of about $500 million per annum.

On a brighter note, the company's online sales in New Zealand jumped 90 per cent to $4.8m and are now almost 4pc of total sales.


JB Hi-Fi closed one of its New Zealand stores in the six months ended December 31, while opening seven new stores in Australia.

"We continue to reposition the New Zealand business as part of our strategy to improve performance", the retailer said in presentation slides accompanying the release.

On these results, JB's Australian segment is continuing to perform strongly, though the same can't be said of The Good Guys and the New Zealand business.

The chain, which has successfully moved into whiteware in Australia, has also told the ASX that while it enjoyed a bumper first half, its New Zealand operations were treading water.

The company expects its full-year profit to grow 13-16 percent despite sales rising 22 percent.

Following on from the acquisition of The Good Guys, total group sales are forecast to be around $6.85 billion. JB Hi-Fi came in at No. 218, and is only the third Australian retailer to boast a place.

Recommended News

  • North Korean leader's sister to watch joint Korean hockey team

    North Korean leader's sister to watch joint Korean hockey team

    The last summit was held in October 2007 between Roh Moo-hyun and Kim Jong Il, the father of the current North Korean leader. Estimated to be around 30 years old, she is perhaps the only person to give direct opinions to Kim Jong Un .
    Kane header clinches North London derby for Spurs over Arsenal

    Kane header clinches North London derby for Spurs over Arsenal

    However, thanks to Lacazette doing his best Alvaro Morata impression, neither team found another goal. The game ended 1-0 for the home side as the Gunners continue to suffer from their inconsistent form.
    Boris Johnson challenges Aung San Suu Kyi on Rohingya crisis

    Boris Johnson challenges Aung San Suu Kyi on Rohingya crisis

    Mr Johnson is due to tour Rakhine State with representatives from the Burmese military later. He will go on to Bangkok, Thailand, for talks with Thai Prime Minister Prayut Chan-o-cha.
  • PM Modi delivers keynote address in UAE

    PM Modi delivers keynote address in UAE

    Modi also thanked the UAE which provided nearly 30 lakh people from India a home like environment, away from home. Prime Minister also formally laid foundation of first Hindu temple in UAE through teleconferencing.
    Deepika Padukone offers a special gift for her fans on Promise Day

    Deepika Padukone offers a special gift for her fans on Promise Day

    Fans are lapping it up for its cinematography and performances, and the result is that the film has earned a lot of money for its makers.
    Gay teacher fired after same-sex wedding photos posted online

    Gay teacher fired after same-sex wedding photos posted online

    She never imposes her personal beliefs on others. "She is no longer teaching at our school", the letter said. Cini further advised that while the parents hadn't known that Morffi was a lesbian, they didn't care.
  • Trump tells Israeli newspaper Palestinians 'aren't willing to make peace'

    Trump tells Israeli newspaper Palestinians 'aren't willing to make peace'

    Asked whether Israeli settlements would form part of the peace plan, he said: "We will be talking about settlements". I think we are very good partners and friends, so we can have frank conversations when we disagree".
    Mahinda's SLPP says it is heading for victory at polls

    Mahinda's SLPP says it is heading for victory at polls

    Earlier, high voter turnout of more than 65 percent was recorded at yesterday's polls signifying anti-incumbency factor. It was seen by many as an unofficial referendum on the performance of the unity Government so far.
    Pence Says North Korea Must Give Up Nukes before Talks

    Pence Says North Korea Must Give Up Nukes before Talks

    The man dressed as Kim said he thought it was "really unfair" that they were forced to leave the ceremonies. Mr Pence has repeatedly said he would deliver a tough message to the North in any meeting.
  • Pebble Beach Pro-Am: Ted Potter Jr wins second PGA Tour title

    Pebble Beach Pro-Am: Ted Potter Jr wins second PGA Tour title

    Kevin Streelman and Larry Fitzgerald won the Pro-Am championship by a margin of seven strokes with a total of 41-under. Potter's winnings Sunday also represented about 50 percent of his previous PGA Tour winnings in 83 career events.

    North Korea judged winner of diplomatic gold at Olympics

    The unimaginable moment of South Korea's President Moon Jae-in shaking hands with North Korea's "First Sister" came true. Still, it was widely believed to reflect US suspicions toward the recent rapprochement between the two Koreas.
    Millennium man Gerard makes history with Olympic first

    Millennium man Gerard makes history with Olympic first

    I had to land this run so the pressure was at its maximum level but I think I dealt pretty well with it", Parrot told reporters. There is no better start for an athlete at the Olympics , let alone one who is only 17 competing in his very first event.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.