JB Hi-Fi’s sales fell yesterday then quickly recovered after the business reported consistent sales growth for the three months up to March, despite several retailers in the specialist audio Channel reporting fluctuating sales during the first quarter of 2025.

Group CEO Terry Smart reported sales growth of 6.5% and 6% same store sales despite the quarter taking in a Federal Election period that is traditionally slow, and turmoil associated with the introduction of Trump Tariffs.

While the numbers disappointed some analysts the retailer is confident of forward sales with second half of 2025 set to show improvement.

The Good Guys reported third-quarter sales growth of 4.1 per cent, while e&s sales were only up 0.9 per cent with the operation currently being moved onto JB Hi Fi’s back end systems.

“Sales growth has slightly moderated but remains within expectations and is cycling that stronger second half a year ago,” Smart said.

In an earlier statement, Smart said the market remains “challenging and competitive”, but he sees the retailer as well-placed to capture sales in the last quarter of the year.

“Consumers remain value-focused, but tech is higher on the priority list, and we are getting good results there. We have strength in mobile phones and computers, and consumers want the latest tech.”

“In a challenging and competitive retail market, we are pleased to see sales momentum continue in the third quarter of fiscal 2025,” he claimed.

Citi analyst Adrian Lemme described the update to the AFR as a “slight sales miss”, with the quarterly performance trailing his and the market’s consensus expectations.

He said it also reflected a slowdown in sales compared to the last update.

“JB Hi-Fi Australia’s third quarter like-for-like sales growth of 6 per cent was below its January update (7.1 per cent) but in line with (market) consensus expectations of 6 per cent like-for-like sales for the second half,” Mr Lemme said.

He said The Good Guys reported a fall in same-store sales ­momentum, from 5.9 per cent in the January update to 4.1 per cent for the third quarter.