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JB Hi-Fi Reports Strong Sales Growth For Current Quarter

JB Hi-Fi says it has continued to see strong sales growth in the third quarter of the 2022 financial year.

The company’s Australian operations have seen sales growth of 11.3 per cent for the March quarter (to date), with its NZ businesses providing 2.9 per cent growth.

The Good Guys saw sales growth of 5.7 per cent.

JB Hi-Fi’s year-to-date total sales growth for FY22 equals 1.5 per cent for its Australia operations, and 1 per cent for The Good Guys, but has fallen 2.5 per cent in New Zealand.

“This sales growth, combined with disciplined cost control, and stock availability and sales mix benefits in gross margins, particularly in The Good Guys, drove strong operating leverage across the group,” the company said in the update.

JB Hi-Fi said it “does not currently consider it appropriate” to provide sales and earnings guidance for FY22 considering the ongoing disruptions impacting the sector.

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