Tech sales up but caution remains over retail market
Mobile phone, computer, video game and small appliance sales boosted profits for electronics giant JB Hi-Fi, which recorded sales of more than $6 billion in six months.
However, the company says it remains concerned about future earnings due to high uncertainty in the retail market.
The company announced its six-month results on the Australian stock exchange on Monday, revealing that sales increased 7.3 percent during the period, giving the company a net profit of $305.8 million.
The company will distribute a dividend of $2.10 to its shareholders, an increase of more than 23 percent, after increasing its payout ratio.
JB Hi-Fi’s Australian operations represented the largest share of the company’s revenue, rising 6.3 per cent to $4.12 billion between July and December.
Continued high demand for consumer electronics such as smartphones and fitness equipment drove the increase, with online sales rising 11.2 percent to account for 18.4 percent of all sales.
Appliance sales, led by cooking, cooling, laundry and floor care devices, announced that The Good Guys increased its revenue by 4.1 percent, reaching $1.58 billion.
Sales at JB Hi-Fi’s New Zealand operations also rose 32.6 per cent to NZ$268.6 million, but sales growth at recently acquired home appliance company e&s fell 4.6 per cent.
JB Hi-Fi CEO Nick Wells said the results built on the momentum created during the previous financial year, but the company remained concerned about retail spending trends in a tight economy.
“Whilst we are pleased to see continued sales growth at JB Hi-Fi and The Good Guys in January, building on strong sales from the previous year, we remain cautious given the uncertainty and ongoing competitive activity in the retail market,” he said.
“We are grateful to our more than 16,000 team members, whose continued focus on our customers and ability to adapt and respond helped us deliver another strong half-year result.”
The company also announced it was opening four new JB Hi-Fi stores in Australia and closing one in fiscal 2026, opening three new stores and moving one to New Zealand.
Australia’s retail spending increased by 4.8 per cent in December 2026 compared to the previous year. Australian Bureau of StatisticsThere was a decrease of 0.4 percent compared to November.
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