JBH ASX: JB Hi-Fi first-quarter sales fall; Good Guys tumbles

📆 26/10/2023 8:31 AM

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📆 26/10/2023 8:31 AM
📰 FinancialReview

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The retailer is well positioned in a tougher trading environment, CEO Terry Smart told investors at the AGM .

JB Hi-Fi boss Terry Smart says first-quarter sales are trading in line with expectations, trending softer at its Australian electronics stores and sinking 12.2 per cent at white goods retailer The Good Guys.

“As we have continued to demonstrate, we will adapt and respond to the changing retail conditions to ensure we remain the number one destination for shoppers and grow our market share.” “Q1 FY24 sales are in line with the group’s expectations cycling the elevated period from last year,” Mr Smart said.“While total sales continue to be well above pre-COVID Q1 FY19, the group continues to see variability in category performance.”Mr Smart saidis vital in the current environment, so it will focus on growing market share by attracting new customers with promotions.

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