Sales growth gap between Noel Leeming and JB Hi-Fi widens

JB Hi-Fi's New Zealand division accounts for under 4% of total group sales. (Image: Greg Bowker)

Mon, 13 May 2024

Two third-quarter sales reports a day apart have shown a growth rift between technology retailers Noel Leeming and JB Hi-Fi.The Warehouse Group reported on Friday that Noel Leeming’s sales declined 9.3% to $224.7 million in the 13 weeks to April 28, compared to the same period last year.Noel Leeming’s result followed March’s interim earnings in which the division’s sales fell 2.2% in the 26 weeks ending Jan 28.“We were expecting only a modest drop in sales, low single digits. High single digits are much worse than...

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