For first quarter FY20.
JB Hi-Fi Australia has grown sales 4.7% during Q1 FY20 from 1 July to 30 September 2019. Comparable sales growth was 3.7% for the quarter. For JB Hi-Fi New Zealand, total sales growth was 3.8% and comparable sales were up 3.8%. Over at The Good Guys, total sales growth was down 0.5% and comparable sales declined 1.8%.
In its FY19 results presentation, JB Hi-Fi announced total sales growth of 4.1% for JB Hi-Fi Australia, -0.4% for JB Hi-Fi New Zealand and -2.1% for The Good Guys for July 2019. Therefore, the latest trading update reflects improved sales momentum during the remainder of the first quarter.
The Group has also reaffirmed its previously announced FY20 sales guidance of circa $7.25 billion.
JB Hi-Fi Group CEO, Richard Murray said “We believe we have two unique and relevant brands, particularly in the eyes of our customers. With a customer focused business model built on a diverse product offering, deep relationships with our suppliers, a high-quality multichannel offer and exceptional customer service, we are confident we will maintain our market leading competitive position. I look forward to another exciting and successful year in FY20.”