JB Hi Fi is having an amazing couple of years both in Australia and New Zealand despite Covid causing mass lockdowns around Australia. In fact, much of Australia is currently on lock down with the Delta strain of the virus making it’s way around the country.
In its latest results released to shareholders, JB Hi-Fi has reported that they achieved record earnings on record sales for the 21 financial year. The company had earnings that grew 53.8 per cent to $743 million on sales of $8.9 billion dollars and sales growth of 12.6 per cent. Net profit for the group was an impressive $506 million dollars which is an increase of 67.4 per cent over the pervious year.
These great results will be a highlight for outgoing JB Hi Fi chief executive Richard Murray. Richard Murray announced that he will be moving to Premier Investments in August so it’s approaching the end of his successful reign. Richard Murry believes that the success over the past year can largely be attributed to the companies focus on improving the core business operations, eg supply chain, and investing in it’s online stores. Having a reliable and robust online store allows customers to shop easily and confidently online, something of high importance during this time of Covid.
Online retail in general has boomed over the past couple of years in New Zealand, driven by customers being forced online by Covid. Stores like Princess Polly have been doing great numbers online and with a Princess Polly Coupon Code, you get a great deal when you shop online.