The company opened 13 new JB Hi-Fi branded stores and two new Clive Anthonys stores throughout 2007, bringing the retailer's store total to 104 at the end of December.
This comprises of 89 stores in Australia (81 JB Hi-Fi and eight Clive Anthonys), along with 15 in New Zealand. During the half-year ended 31 December, 12 new Australian and three new New Zealand outlets were launched.
According to JB Hi-Fi chief executive officer, Richard Uechtritz, attributing to the excellent sales result was lower operating costs for the business, along with a "unique technology focussed retail model."
But while most retailer's report massive drops in sales after the busy Christmas rush and corresponding January sales period, JB Hi-Fi's results have continued to impress.
"Sales in January and February to date have continued the strong momentum of the first half of the year. We now expect sales to be circa $1.8 billion (previously $1.7 billion) for the full financial year, 40 per cent increase and we expect the full financial year NPAT to be between $57 - $60 million, a 41% to 49% increase on the prior year," said Uechtritz.
