To increase market share.
JB Hi-Fi chief executive Richard Murray is eager to increase the company’s market share in the home appliance category, whether its acquisition of The Good Guys gets the green light or not.
Speaking at the Stockbrokers Association of Australia annual conference in Melbourne on Wednesday, Murray reportedly said, “I am very comfortable with our home appliance strategy…It is a smaller part of a bigger pie but there are a number of ways now you can increase your market share.”
JB Hi-Fi has about 3% market share in the Australian home appliance industry. However, Murray has previously told investors that JB Hi Fi would have 58 Home stores by the end of this year and reach 75 by the end of 2017.
On the sale of The Good Guys, Murray said, “It’s early days in the process and we are obviously working hard to understand the opportunity.”