Reaffirms FY19 guidance.
JB Hi-Fi has announced Q3 sales and reaffirmed its FY19 sales guidance at the 2019 Macquarie Australia Conference in Sydney today.
JB Hi-Fi Australia recorded total sales growth of 2.6% in Q3, down from 7.5% in the previous corresponding period (pcp), with comparable sales growth of 1.5%, compared to 4.3% in the pcp.
YTD FY19 sales growth has slowed to 4.1%, compared to 9.8% in FY18 and comparable sales growth was 2.7% compared to 6.7% in FY18.
For JB Hi-Fi New Zealand, total sales growth for Q3 was -1.2%, an improvement on -4.4% in the pcp. Comparable sales growth was 4.6%, up from -0.6% in the pcp.
The Good Guys total sales growth was 2.2% for Q3, compared to -1.3% in the pcp with comparable sales growth of 1%, an improvement from -2.9% in the pcp.
The company reaffirmed its previously announced FY19 guidance with total group sales to be circa $7.1 billion, comprising $4.73 billion from JB Hi-Fi Australia, $0.24 billion from JB Hi-Fi New Zealand and $2.15 billion from The Good Guys.
Total group NPAT is expected to be in the range of $237 million to $245 million, an increase of 1.6% to 5.1% on the pcp.