JB Hi-Fi has delivered record annual sales of $11.06 billion, up 4.8%, with the retailer lifting its full-year dividend by 22.5% despite warning that supplier price rises and stock shortages in technology categories dented fourth-quarter growth.

Net profit after tax for the 12 months to 30 June 2026 rose 6.0% to $489.9 million, while earnings before interest and tax climbed 5.8% to $734.4 million.

The board declared a final dividend of 127.0 cents per share, up 21.0%, taking the total FY26 payout to 337.0 cents per share, up 62.0 cents, representing 75% of net profit.

Group CEO Nick Wells said the retailer was pleased to report record sales and solid earnings, adding that in an uncertain retail environment where customers were seeking value, the group’s brands continued to resonate and its teams continued to execute to a high standard.

Australia Slows In Q4 As Tech Stock Dries Up

The core JB Hi-Fi Australia business lifted total sales 4.4% to $7.42 billion, with comparable sales up 3.2%, driven by computers, mobile phones, fitness, small appliances and IT.

Online sales jumped 7.0% to $1.28 billion, now 17.2% of total sales.

However, the company revealed fourth-quarter sales growth was hit by supplier price rises and stock availability shortages in technology categories, along with the cycling of new product releases in the prior year.

Gross margin slipped 5 basis points to 21.94% on sales mix, while EBIT rose 3.2% to $547.3 million, with EBIT margin down 9 basis points to 7.38%.

Cost of doing business edged up 4 basis points to 12.46%, which the company claims remains a competitive advantage built on productivity and scale.

New Zealand Swings To Profit On 26% Sales Surge

JB Hi-Fi New Zealand, long a laggard for the group, was the standout performer, with total sales soaring 26.0% to NZ$499.5 million and comparable sales up 15.3%.

The Kiwi operation swung to an EBIT of NZ$4.1 million, a NZ$4.3 million turnaround, as operating leverage from sales growth and cost control finally delivered a profit across the Tasman.

Growth was driven by mobile phones, computers, audio, small appliances and games hardware, with online sales up 36.7% to NZ$86.2 million.

Gross margin improved 41 basis points to 17.41%.

The Good Guys Takes Share In Soft Appliance Market

The Good Guys grew total sales 2.7% to $2.94 billion, with the company claiming the appliance chain took market share in a weaker home appliance market in the fourth quarter.

Growth categories were portable appliances, floorcare, cooking, refrigeration and audio, with online sales up 13.1% to $481.3 million.

EBIT rose 6.0% to $184.0 million, with margin up 19 basis points to 6.25%, and gross margin improved 27 basis points to 23.74%.

e&s Slips Into The Red

Premium appliance retailer e&s, acquired by the group in FY25, posted an EBIT loss of $0.4 million as it invests in strategic initiatives including stores and its Commercial division.

Total sales were $273.1 million, down 0.2% on a comparable 12-month basis, with comparable sales down 3.2%, although statutory sales were up 21.3% because the prior year only included ten months of trading.

The company said sales revenue was impacted by the migration of wholesale sales to agency sales, which are recognised as commission for external reporting purposes, and that total sales on a gross basis were up on the prior year.

Gross margin rose 117 basis points to 29.72%, while cost of doing business jumped 284 basis points to 26.15%, with the company claiming investments are generating written sales growth to be recognised in future periods.

Earnings per share for the group rose 5.9% to 448.1 cents per share.

 

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