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JB HiFi, the company that just recently posted a 61 per cent profit rise and whose earnings are the talk of the industry says that the financial turmoil will only have an impact on consumer sentiment, rather than hitting actual sales.

Company CEO Richard Uechtriz noted that "I guess the effect will be mainly on the sentiment", adding that "the $40 billion in losses was note real money that could be spent, but on paper".

"If we look at the superannuation losses, that is not money that consumers have to spend right now?so no, I don't think there will be great impact on our business", added Uechtriz.

Furthermore, Uechtriz, along with fellow retailer Gerry Harvey, head of Harvey Norman, reiterated the notion that as long as interest rates stay low, or perhaps even go down and unemployment does not go out of control, then retail spend will not be effected greatly.

"The latest unemployment figures showed a slight decrease in the jobless rate", noted Uechtriz, adding that, "it seems we may have another interest rate cut and even the price of petrol has gone down a bit which all helps with consumer sentiment".

Asked as to whether the now more stringent capital borrowing climate would affect his company and any possible future expansion planes, Uechtriz commented that "we don't need money, we have a very low capitalization base so any tightening of borrowing will not affect us at all".