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• Total Sales (JB Hi-Fi Australia): Increased by 7.2% to $3.88 billion.

• Comparable Sales (JB Hi-Fi Australia): Up 7.2%.

• Online Sales (JB Hi-Fi Australia): Increased by 16.4% to $682.7 million, 17.6% of total sales.

• Gross Profit (JB Hi-Fi Australia): Increased 6.4% to $846.4 million.

• Gross Profit Margin (JB Hi-Fi Australia): Down 17 basis points to 21.8%.

• EBIT (JB Hi-Fi Australia): Increased 7.5% to $316.5 million.

• Total Sales (JB Hi-Fi New Zealand): Increased by 20% to NZD202.5 million.

• Comparable Sales (JB Hi-Fi New Zealand): Up 6.9%.

• Online Sales (JB Hi-Fi New Zealand): Increased by 58.4% to NZD32.4 million, 16% of total sales.

• Gross Profit (JB Hi-Fi New Zealand): Increased by 22.4% to NZD34.5 million.

• Gross Margin (JB Hi-Fi New Zealand): Up 33 basis points to 17%.

• Total Sales (The Good Guys): Increased by 9.2% to $1.52 billion.

• Comparable Sales (The Good Guys): Up 8.8%.

• Online Sales (The Good Guys): Increased by 8.9% to $233.3 million, 15.4% of total sales.

• Gross Profit (The Good Guys): Increased by 8% to $351.1 million.

• EBIT (The Good Guys): Increased by 7.5% to $99.5 million.

• Total Sales (e&s): Increased by 7.6% to $92.3 million since acquisition.

• Inventory: $1.32 billion, up 13.5% year on year.

• Net Cash: $555 million.

• Interim Dividend: $1.70 per share, fully franked, up 7.6%.

• Warning! GuruFocus has detected 3 Warning Signs with FRA:B2S.

Release Date: February 09, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• JB Hi Fi Ltd (JBHIF) reported a strong sales increase of 7.2% in Australia, driven by demand for technology and consumer electronics.

• The company saw significant growth in online sales, with a 16.4% increase in Australia and a 58.4% increase in New Zealand.

• The acquisition of e&s has expanded JB Hi Fi Ltd (JBHIF)'s access to premium home appliance categories, enhancing its product range.

• The Good Guys division experienced a 9.2% increase in total sales, with strong performance in floorcare and portable appliances.

• JB Hi Fi Ltd (JBHIF) maintains a strong balance sheet with a net cash position of $555 million, providing financial flexibility.

Negative Points

• Gross profit margins have slightly decreased due to competitive pressures and sales mix changes.

• The company faces ongoing heightened competitor activity, impacting pricing strategies and margins.

• There is uncertainty in the retail market, which could affect future sales performance.

• The New Zealand division, despite sales growth, is not expected to be profitable for the full year.

• The company is cautious about promotional activities due to the competitive landscape, which may affect profitability.