JB Hi-Fi has shared data on the first 31 days of trading in 2025 and flagged “continued competitor activity”.
In a trading update issued as part of the company’s half-year results, JB Hi-Fi CEO Terry Smart said he was pleased with the first month of the 2025 calendar year, but this optimism was framed with a slightly ambiguous outlook.
“Whilst the Group is pleased to see sales momentum continue into January, it remains cautious given the uncertainty in the retail market and the continued competitive activity,” Smart said.
Total sales growth for JB Hi-Fi Australia was 7.4% – up from 2.5% in January 2024 with comparable sales growth (or like-for-like sales) up 7.1% – up from 1.7% in January 2024.
Total sales growth for The Good Guys was 6.4% – up from a decline of 2.2% in January 2024 with comparable sales growth of 5.9% – also up from a decline in January 2024 also of 2.2%.
Total sales growth for e&s was 8.1% with comparable sales growth of 7.5%.
When asked about this activity, Smart said gross margin was down slightly in both brands, was “coming from the investment on the floor to close deals”.
“We are seeing it across the board and definitely categories like computer are very competitive.”
Overall, Smart said he observed an increase in the volume of products as well as the average sale price in a number of categories.
“We saw the volume increase during the key promotional events. We have said and everyone has said it – people are reacting to promotional events. Black Friday has again showed that people get what it is in Australia and it is becoming a very entrenched event.”
For further reading, check out our story: JB-Why-Slide? – explaining JB Hi-Fi’s share slump