The electronics retailer said online revenue jumped more than 50 per cent, while shoppers also returned to stores as COVID-19 restrictions eased.
has posted record sales and earnings for fiscal 2022, with online revenue jumping more than 50 per cent, as shoppers returned to stores as COVID-19 restrictions eased.
JB is the first major retailer to show the previous financial year was a boon but did not provide any hard sales outlook. It did, however, say it was facing a number of different, state-based, COVID-19 restrictions in the prior year period, including store closures in greater Sydney and Victoria. Terry Smart, CEO of JB Hi-Fi at its Chadstone store in Victoria, said the retailer posted record sales and earnings in fiscal 2022.JB, which also owns The Good Guys, flagged on Tuesday that its group online sales rose 52.8 per cent to $1.6 billion, representing 17.6 per cent of total sales for the year.Preliminary full-year earnings before interest and tax climbed 6.9 per cent to $794.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
JB Hi-Fi’s huge profit beat hides an interest rate warningRecord sales and a net profit 30 per cent above expectations at JB Hi-Fi suggest predictions of big rate rises to come might not be off the mark.
Read more »
Nuix fails to score new customers, shares fall 10pcNuix shares hit a record low on Monday, after the embattled software company warned lacklustre new customer sales is likely to hit revenue.
Read more »
Rising corporate profits major factor in Australia’s escalating inflation, report findsWage growth is at record low levels, while the profit share is at a near-record share of GDP, according to analysis from the Australia Institute
Read more »
ANZ targets Suncorp Bank, miners headline trading updatesAustralian miners will headline a slew of corporate updates next week, as US earnings season hits top gear and investors mull ANZ’s mooted bid for Suncorp Bank.
Read more »
Whitehaven urges NSW to keep hands off coal cash cowWhitehaven will report a 15-fold increase in earnings but warned NSW politicians they could kill future investment if they match Queensland’s coal royalty raise.
Read more »
France braces for record temperatures as wildfires rage across EuropeThousands evacuated as above 40C forecast for some French regions on Monday and more lives lost in soaring heat in Spain
Read more »