CONSUMER DEMAND MUSIC TO JB HI-FI
CONSUMER electronics retailer JB Hi-fi says strong consumer demand for its range of computers, tech devices, home appliances and TVS has continued into the first quarter.
But the retailer said given the uncertainty around the COVID-19 pandemic and the economy it would not provide sales guidance for 2021.
The company, which also owns The Good Guys chain of whitegoods stores, said following the lifting of tight restrictions in Victoria its stores in
Melbourne would now open for in-store customers.
JB Hi-fi chief executive Richard Murray said the spike in sales experienced through the early months of the pandemic had pushed into the first three months of fiscal 2021.
Mr Murray said that for the period July 1 to September 30, JB HI-FI Australia total sales growth was 27.3 per cent, against 4.7 per cent for the same time last year, with comparable sales growth of 27.6 per cent, against 3.7 per cent in 2020.
JB HI-FI New Zealand’s total sales and comparable sales growth were both down 2.5 per cent (previous corresponding period 3.8 per cent). The Good Guys total sales growth was 30.9 per cent against a fall of 0.5 per cent last year, with comparable sales growth of 30.9 per cent, against a fall of 1.8 per cent for the same time last year.
“Our online businesses have continued to scale and meet the needs of our customers in a period where restrictions have impacted their ability to visit our stores,” Mr Murray said.
JB Hi-fi shares fell 1.2 per cent to $47.38 yesterday.