JB Hi-Fi Group has reported solid sales growth across all its retail brands for the fiscal third quarter ended March 31, 2025, reinforcing momentum seen earlier in the year.
Appliance-focused banners The Good Guys and E&S delivered year-over-year sales growth, with strong performance also reported across JB Hi-Fi’s core electronics business.
For the March quarter, The Good Guys’ sales rose 4.6 per cent year over year, while E&S posted a 1.9 per cent increase. These followed particularly strong trading in January 2025, with The Good Guys’ sales up 6.4 per cent and E&S up 8.1 per cent compared to the previous year.
JB Hi-Fi Australia grew sales by 6.5 per cent for the quarter, and JB Hi-Fi New Zealand led the group with 17.5 per cent year-over-year growth.
Group CEO Terry Smart said the business remains focused on delivering value and customer service during a period of intense market competition.
“In a challenging and competitive retail market, we are pleased to see sales momentum continue in Q3 FY25,” Smart said. “As we approach the important end of financial year trading period, we remain focused on delivering consistently high levels of customer service and exceptional value for our customers.”
The third update builds on a strong first half of FY25. For the six months ending 31 December 2024, group sales were up 9.8 per cent to $5.67 billion. Net profit after tax rose 8.0 per cent to $285.4 million, and EBIT climbed 8.6 per cent to $419.9 million.
The Good Guys recorded a 9.2 per cent increase in sales for the half year, with comparable sales up 8.8 per cent. Key growth categories included floorcare, televisions, portable appliances, cooking, and refrigeration. Online sales rose 8.9 per cent to $233.3 million, now accounting for 15.4 per cent of total revenue.
Gross profit at The Good Guys grew 8.0 per cent to $351.1 million, although gross margin slipped 25 basis points to 23.1 per cent, largely due to heightened promotional activity. EBIT rose 7.5 per cent to $99.5 million.
E&S, which was acquired in September 2024, contributed $92.3 million in sales during its first 120 days under JB Hi-Fi ownership. Comparable sales grew 7.2 per cent, driven largely by its Commercial division. EBIT was $1.9 million, with an EBIT margin of 2.0 per cent.
Smart acknowledged that margins across The Good Guys and other brands were under pressure due to competitive deal-making and investment in frontline teams. “We are seeing it across the board and definitely categories like computer are very competitive,” he said during the February update.
Despite that, he reported increased volume and higher average sale prices in many categories—particularly during key events like Black Friday, which continues to cement itself as a major retail moment in the Australian market.
“Our value proposition – big brands, big range, low prices – and the trust that customers have in us to deliver this value is definitely supporting sales growth,” Smart said.
“We know what is important to shoppers; they want to de-risk that purchasing journey and to do this, they will turn to those who they trust that have a large range and therefore choice.”
He added that JB Hi-Fi’s scale, focus on productivity, and omnichannel strategy remain central to delivering value while managing rising costs. Online, phone, chat, and video-based retailing continue to complement in-store discovery and impulse buying.