JB Hi-Fi posts strong quarterly growth, but year-on-year sales down

Trans-Tasman electronics retailer JB Hi-Fi states it is “pleased” with its initially-quarter general performance as it developed continuing sales momentum throughout the organization.

For the three months to September 30, revenue development when compared with the June quarter was 14.6 for each cent for JB Hello-Fi Australia, 12.3 per cent for The Fantastic Men and 27.7 per cent for New Zealand.

Even so, when in comparison with the exact same quarter a 12 months earlier, like-for-like profits were being down 7.9 per cent in Australia, 6.4 for each cent in New Zealand and 6.1 for every cent at The Fantastic Guys.

Group CEO, Terry Sensible, said that in an uncertain retail setting with house budgets less than increasing stress, clients gravitate to trusted benefit-driven shops.

“Our ongoing approach of providing clients with the most effective value and excellent service each individual day will ensure our models carry on to produce for our clients.”

Analyst Ben Gilbert, head of Australian exploration for Jarden, claimed there are handful of signals of a slowing in general purchaser paying and he expects JB Hello-Fi to trade very well over Christmas.

“Our business discussions counsel the sector continues to be rational, with the blend unchanged, suggesting gross merchandise product sales likely in line with the past corresponding interval.

“High-frequency data implies family products developments are moderating with residence costs as one of the solitary greatest drivers of expending.”