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JB Hi-Fi online sales exceed $1 billion in first half

Trans-Tasman electronics retailer JB Hi-Fi’s online sales surpassed $1.1 billion in the first half of its trading year – soaring 62.6 per cent year on year. 

E-commerce now represents 22.7 per cent of the company’s total sales, which were $4.86 billion, down 1.6 per cent year on year, but up by 21.7 per cent compared with two years earlier, the pre-Covid era.

Group CEO Terry Smart said the strong sales and earnings for the half year to December 31 reflected the company’s ability to adapt and respond to meet the strong demand for customers, both in-store and online, in what were “challenging circumstances”. 

“I would like to thank our over 13,000 team members who have continued to do an incredible job and worked tirelessly throughout this difficult period,” he said in a stock-exchange filing.

“As the challenges associated with Covid-19 continue, the health, safety and wellbeing of our team members, customers, business partners and the wider community remain our highest priority.”

Preliminary calculations of earnings before interest and tax showed a decline of 9.1 per cent over last year at $420.5 million, which was 59.9 per cent ahead of the December 2019 half year. 

Audited half-year results will be released on February 14. 

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