Tech-savvy shoppers push JB Hi-Fi net profit up 35%
“If a customer says the food is no good you are f-----.”
He said he would not be comfortable sending his dishes to customers via UberEats.
UberEats, which was launched on the Gold Coast last year, did not respond to requests for comment. STRONG sales of wireless headphones, portable speakers, drones and televisions have helped JB Hi-Fi deliver a 35 per cent jump in full-year net profit, despite stiff competition.
The Australian business performed strongly over the past year, chief executive Richard Murray said, although The Good Guys, which it bought in 2016, faced a “challenging” second-half in the home appliances market.
The crowded home appli$233.2 ances sector has been “very competitive”, Mr Murray said.
“People are doing free deliveries and things like that – I just think the market’s being competitive,” he said.
“I don’t think it’s the housing market.”
He said the company would need to focus on the replacement market for hi-tech white goods. “We’ve got to get them to upgrade before it breaks, and if we can get them excited about the product information that’s really powerful.”
Net profit for the 12 months to June 2018 lifted by a third to
million, while underlying profit after tax also rose 12.3 per cent. Revenue jumped 21.8 per cent to $6.85 billion.
The latest results include a full 12-month contribution from The Good Guys, compared to only seven months in the previous financial year.
The retail group, which spans 208 JB Hi-Fi and 103 The Good Guys stores, has forecast a 3.6 per cent rise in total sales to about $7.1 billion for this financial year.
This comprises $4.75 billion from JB Hi-Fi Australia and $2.15 billion from The Good Guys, with the rest coming from its New Zealand operations.
The retailer plans to open five JB Hi-Fi stores and two The Good Guys stores in Aus- tralia, and close one JB Hi-Five store in New Zealand.
JB Hi-Fi Australia posted a 2.9 per cent rise in sales for July, compared with 9.3 per cent growth for the same month last year.
Like for like sales, which strip out the impact of stores opening and closing, were up 0.3 per cent, compared with a 6.5 per cent jump a year earlier.
Sales growth for The Good Guys was up 2.7 per cent in July, compared with 6.8 per cent growth last July. Like-forlike sales growth also slowed to 1.4 per cent from 5.7 per cent.