JB Hi-Fi Australia has reported a 0.8% sales drop in Q3 FY23 from 1 January 2023 to 31 March 2023 with comparable sales down 0.1%. This compares to sales growth in the previous two quarters of 5.6% in Q2 and 14.6% in Q1.
The Good Guys recorded a 3.8% decline in both total and comparable sales during Q3, compared to sales growth of 3.3% in Q2 and 12.3% in Q1.
By comparison, JB Hi-Fi New Zealand has seen both total and comparable sales increase by 10.8% in Q3, following 9.8% sales growth in Q2 FY23 and 27.7% sales increase in Q1 FY23.
JB Hi-Fi group CEO, Terry Smart said the group is pleased with the trading result with sales continuing to be well above pre-Covid FY19.
“As anticipated, sales growth has started to moderate from the elevated levels seen in the first half of FY23, but the group’s trusted value-based offerings have continued to resonate with our customers and grown market share,” he said.