Story image

JB Hi-Fi NZ sales edge up despite market-wide tablet sales decline

12 Aug 14

JB Hi-Fi has reported a slight sales growth of 0.9% to $211.4 million across New Zealand during the 2014 financial year, with comparable sales up 0.8%.

Revealed via the Australian Stock Exchange, the consumer electronics chain revealed a total sales rise of 5.3% across the Australia and New Zealand region, amounting to A$3.48 billion.

Across the Tasman sales grew by 4.8% to A$3.29 billion, with comparable sales up 1.3% as overall the company reported a net prefect after tax of A$128.4m for the year ending June 30.

“This was a solid result for the company with net profit after tax up 10.3%, EPS up 9.1%, an increased dividend of 84 cents per share, up 16.% on the prior year, and strong sales growth in the first three quarters of FY14,” says Richard Murray, CEO, JB Hi-Fi.

“Sales in the last quarter were impacted primarily by the market-wide decline in tablet sales and weaker consumer sentiment since May.

“Improved gross margins, ongoing cost control and our continued emphasis on customer, all contributed to the overall result.”

According to the figures, the company has 13 stores across New Zealand, making up a total of 182 stores with the business expecting to open a total of eight new stores during FY15 in a bid to maintain its stated target of 214 stores across ANZ.

Online sales continue to grow also, up 13.9% in FY14, representing approximately 2.2% of total sales as unique visitors to the website increased by 9.9% over the previous 12 months to an average of 1.3 million per week.

White box losing out to brands in 100 GE switching market
H3C, Cisco and Huawei have all gained share in the growing competition in the data centre switching market.
Gartner names newcomer Exabeam a leader in SIEM
The vendor landscape for SIEM is evolving, with recent entrants bringing technologies optimised for analytics use cases.
52mil users affected by Google+’s second data breach
Google+ APIs will be shut down within the next 90 days, and the consumer platform will be disabled in April 2019 instead of August 2019 as originally planned.
Genesys PureCloud generates triple-digit revenue growth year on year
In Australia and New Zealand, the company boosted PureCloud revenue by nearly 100%.
Symantec releases neural network-integrated USB scanning station
Symantec Industrial Control System Protection Neural helps defend against USB-borne cyber attacks on operational technology.
IDC: Standalone VR headset shipments grow 428.6% in 3Q18
The VR headset market returned to growth in 3Q18 after four consecutive quarters of decline and now makes up 97% of the combined market.
Kidd made Ingram Micro executive for cloud
Barbara Kidd has been promoted to cloud general manager as the company signs new vendors to its Cloud Marketplace.
Open source will be the next big thing for the channel
Channel firms should be on the lookout for opportunities across open source and more diverse software offerings like software-defined containers and storage.