Total sales have dipped 1.6% to $4.86 billion at JB Hi-Fi for the six months ending 31 December 2021. Total sales were up 21.7% over a two-year period.
Net profit after tax (NPAT) was down 9.4% to $287.9 million but up 68.8% over a two-year period.
Online sales increased 62.6% to $1.1 billion – exceeding $1 billion for the first time and now representing 22.7% of total sales.
For JB Hi-Fi Australia, sales declined 1.9% to $3.29 billion with comparable sales down 2.5%. However, sales momentum was strong through the half with continued heightened customer demand for consumer electronics and home appliances. Key growth categories were small appliances with solid growth from stick vacuums and coffee machines, smart home devices and games hardware.
Total sales dipped 0.8% to $1.44 billion for The Good Guys with comparable sales down 1.3%. Key growth categories were small appliances, particularly coffee machines and food preparation, floorcare driven by growth in stick vacuums, robotic vacuums and steam cleaners, laundry with solid gains in larger capacity washing machines and heat pump dryers, as well as dishwashers and major cooking appliances.
Over at JB Hi-Fi New Zealand, total sales were down 4.5% to NZD138.4 million with comparable sales also down 4.5%. Games hardware, visual and smart home were the key growth categories.
The group also provided a sales update for the period 1 January to 31 January 2022.
JB Hi-Fi Australia experienced sales growth of 4.3% compared to the prior corresponding period, while The Good Guys recorded sales growth of 2.5% in January 2022. JB Hi-Fi New Zealand reported a 1.8% decline in sales for the month.