JB Hi-Fi issues Q3 sales update

JB Hi-Fi has released a sales update for the period 1 January 2022 to 31 March 2022.

During this period, total sales for JB Hi-Fi Australia increased 11.9% or 11.1% on a comparable basis. However, year-to-date, total sales inched up 1.9% or 1.3% on a comparable basis.

For The Good Guys, total sales were up 5.5% or 5% on a comparable basis for Q3 FY22. However, year-to-date, total sales were only up 1.1% or 0.5% on a comparable basis.

JB Hi-Fi New Zealand experienced a 4.8% rise in both total and comparable sales, but year-to-date, both total and comparable sales were down 1.8%.

In view of ongoing disruption to stock availability and operations arising from Covid, coupled with other local and global uncertainties, the group did not provide a FY22 sales and earnings guidance.