PLANS AFOOT TO IMPROVE NZ PERFORMANCE FOR JB HI-FI

By Wares October 26, 2017 Industry news

JB Hi-Fi will be keen to implement its two-year improvement strategy for the NZ territory.

As reported at its parent's AGM earlier today, JB Hi-Fi New Zealand remains a thorn in the group's side.

As already expressed in August, total NZ sales for FY2017 (to end June 2017) were down 0.3% to NZ$234 million, with comparable sales negative 8.8%.

Online sales in New Zealand for FY17 were NZ$4.9 million having showed modest growth (+5.3%) and represented only 2.1% of total NZ sales.

Still, with a new, recently re-launched website, the company today said it is "pleased with its performance to date".

CEO Richard Murray also confirmed today that the review of the New Zealand business had been completed and that a two-year "strategy to improve performance" established.

Although we're hearing some interesting gossip around smart home products, we await firm news of this strategy and will report as soon as we find out what it is!

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