JB Hi-Fi's NZ stores profitable again as sales grow 5.8%

Mon, 11 Feb 2019

By Paul McBeth Feb. 11 (BusinessDesk) - JB Hi-Fi's New Zealand unit is back in profit, and the company has raised its guidance for sales this side of the Tasman. The discount consumer electronics retailer generated earnings before interest and tax of $1.1 million in the six months ended Dec. 31 - up from from zero a year earlier. Sales rose 5.8 percent to $131.8 million. JB Hi-Fi forecasts New Zealand revenue of $240 million in the year ending June 30, up from a previous forecast of $220 million. The retailer closed a loss-making sto...

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