JB Hi-Fi has recorded total sales growth of 8.6% to $5.28 billion, driven by continued demand for consumer electronics and home appliances, as well as Black Friday and Boxing Day promotional periods.
Earnings before interest and tax (EBIT) was up 14% to $479.2 million with strong sales growth and improved gross margins. Net profit after tax (NPAT) was up 14.6% to $329.9 million.
Total sales increased 9.1% for JB Hi-Fi Australia with comparable sales up 8.5%, driven by strong demand for Apple and Samsung headsets in the communications category, growth in home theatre and wireless headphones, as well as computer products and smartwatches.
Online sales were down 34.8% to $537.3 million, or 15% of total sales. Compared to pre-Covid HY20, total sales increased 31.8% and online sales were up 214.6%.
Total sales and comparable sales increased 16.1% for JB Hi-Fi New Zealand. Key growth categories included communications with strong sales from Apple, audio with growth in headphones and portable speakers, as well as computers and fitness products.
Online sales were down 34.7% to NZD19.3 million or 12% of total sales. Compared to pre-Covid HY20, total sales increased 21% and online sales were up 100.6%.
At The Good Guys, total and comparable sales both increased 7.3%, with solid growth in French Door, side by side and bottom mount refrigeration, larger capacity washing machines, heat pump dryers, robotic vacuum cleaners, steam cleaners, larger TV screen sizes and wireless headphones.
Online sales were down 21.5% to $197.2 million or 12.8% of total sales. Compared to pre-Covid HY20, total sales increased 34.6% and online sales were up 148%.