JB HI-FI GROWTH CONTINUES, NZ OPERATION STARS

By Wares May 09, 2016 Retailing

The market continues to like what it sees in JB Hi-Fi's results.

JB Hi-Fi's results for the latest quarter (Q3) were well received last week, with overall Q3 sales +8.6% and comps +5.2%.

These figures were on largely on a par with those released for the year to end of March (+8.0% and +5.2% respectively).

The New Zealand operation fared better than the Aussie arm, although the NZ Q3 growth numbers were down on the first half: 

                            H1        Q3          FY2016 YTD

NZ Total sales +12.7% +10.5%  +12.0%

NZ Comps        +5.2%   +4.7%   +5.1%

Au Total sales  +7.5%   +8.8%   +7.9%

Au Comps         +5.2%   +5.4%   +5.3%

Other news included the ongoing roll out of major appliances in JB Hi-Fi Home stores and the inclusion of small appliances in as many stores as appropriate.

Online sales accounted for just 3% of total sales in the year to date.

This may be another improvement on the 2.4% reported for last year, but it's still lagging behind other retail sectors, if not JB Hi-Fi's peers.

Finishing off with a guidance of AU$3.9 billion for FY2016, the market liked what it saw, judging by the rise in share price (see the ASX listing here).

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