JB Hi-Fi turns focus to ‘significant’ online traffic after bumper earnings
Electronic retailer JB Hi-Fi, which also owns The Good Guys, is turning its attention to its booming online sales, after expressing caution despite a record earnings performance.
With half-year total sales of $6.1 billion and a net profit after tax (NPAT) of $305.8 million, JB Hi-Fi’s leadership celebrated the success.
“We are pleased to report record sales and strong earnings for HY26, as we built on the momentum of the previous year,” group CEO Nick Wells said.
“In a retail environment where customers are seeking value, our brands continue to resonate strongly, and our teams continue to execute to a high standard.”
Online sales for JB Hi-Fi Australia increased by 11.2 per cent to $759 million, accounting for 18.4 per cent of sales. In New Zealand, online sales grew by 47.7 per cent to NZ$47.8 million, forming 17.8 per cent of the company’s sales in the country.
With mobile phones, computers, and small appliances being the fastest-growing categories, JB Hi-Fi said it wants to “leverage the significant online traffic”.
The Good Guys saw its online sales increase by 14 per cent to $266.1 million, 16.8 per cent of total sales. In total, the brand generated $1.58 billion across the half-year period, representing a 4.1 per cent increase. Gross profit margin increased by 20 basis points to 23.32 per cent.
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