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JB Hi Fi Online Sales Break Records, Up 78%

JB Hi Fi online sales are booming, up 78.1% during the past 12 months, as consumers chase down notebooks monitors and webcams, that are in short supply along with entertainment accessories and home security products.

Online sales for the online business came in at $1.1 billion, representing 11.9% of total sales with the business generating between 21 and 25 million visitors a month to the JB Hi Fi web site and 9.2M to The Good Guys site.

In their latest filings with the ASX JB Hi-Fi claim that they expect full-year net profit to soar more than 60 per cent despite a weaker June quarter.

The growth online sees JB Hi Fi take the #1 spot in retail web sites in Australia with the likes of Harvey Norman only managing to generate 13.2M visitors a month, even Kogan struggles up against JB Hi Fi online who have recently moved to a new page format and expanded search engine.

Recently 4Square Media moved to expand awareness of the SmartHouse Digital Magazine with banners now appearing across the top and in the middle of category pages on the popular site.

Releasing unaudited results for the 12 months ended June 30, JB Hi-Fi said it expected net profit to rise 67.4 per cent to $506.1 million – about 7 per cent to 8 per cent higher than consensus forecasts – and earnings before interest and tax to climb 53.8 per cent to $743.2 million.

Group sales rose 12.6 per cent to $8.9 billion, with online sales climbing 78.1 per cent to $1.1 billion, reaching 11.9 per cent of total sales.

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