JB Hi-Fi expects another year of shrinking NZ sales as turnaround programme continues

Mon, 13 Aug 2018

By Paul McBeth Aug. 13 (BusinessDesk) - JB Hi-Fi expects to see another year of declining revenues on this side of the Tasman as the ASX-listed discount consumer electronics retailer attempts to drive profitability in its New Zealand unit. The local division of the Melbourne-based company widened its loss before interest and tax to $2.9 million in the 12 months ended June 30 from an ebit-loss $2.7 million a year earlier. Not only did margins shrink, but revenue dipped 1.1 percent to $231.5 million with the closure of one store and exit f...

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