Close
 

JB Hi-Fi takes a revenue hit after structural changes

  • News
  • March 6, 2018
JB Hi-Fi takes a revenue hit after structural changes

JB Hi-Fi reported its smallest revenue increase ever, thanks to the change in model it executed last year. Closing one store and the halt of selling whiteware saw a profit of less than 0.5 percent for first-half earnings.

The cost of closing a store was reportedly what saw the brand bring in a smaller profit than usual, with $400,000 attributed to the cost of closing. The store also required a rebrand after stopping the sale of its whiteware selection.

A margin of just 0.02 percent was the company’s final take, which implies earnings of about $25,000. Revenue fell 0.4 percent to $124.6 million and gross margin shrank 169 basis points to 16.31 percent.

Government figures show the value of electric and electronic goods retail sales rose 5.8 percent $3.22 billion in the March 2017 from a year earlier, lagging an 11 percent increase in the volume of sales. Over a five-year period, the value of sales rose 20 percent compared to volume growth of 76 percent.

JB Hi-Fi today said online sales almost doubled since the launch of a new website in August last year, accounting for 3.8 percent of first-half sales, or $4.8 million, compared to 2 percent a year earlier.

The company's 15 New Zealand stores are a small part to the Australian group's 311 JB Hi-Fi and Good Guys retail outlets.

Despite the drop, the company are expecting full year profit to fall between AU$235-$240 million, as the brand steadies itself after the changes. 

​ ​

This is a community discussion forum. Comment is free but please respect our rules:

  1. Don’t be abusive or use sweary type words
  2. Don’t break the law: libel, slander and defamatory comments are forbidden
  3. Don’t resort to name-calling, mean-spiritedness, or slagging off
  4. Don’t pretend to be someone else.

If we find you doing these things, your comments will be edited without recourse and you may be asked to go away and reconsider your actions.
We respect the right to free speech and anonymous comments. Don’t abuse the privilege.

 

Automation will help retailers focus on customers

  • News
  • June 19, 2019
  • The Register team
Automation will help retailers focus on customers

More than 100 retailers have gathered at Freedom Furniture’s new Newmarket flagship to consider what the upcoming wave of automation technology offers for the industry. Speakers included Pier Smulders from Alibaba Group and Soul Machines’ Hilary O’Connor.

Read more
 
 

A guide to the four favourite business f***-ups I've made

  • Opinion
  • June 18, 2019
  • Wendy Thompson
A guide to the four favourite business f***-ups I've made

Wendy Thompson is the founder and CEO of the successful social media marketing agency Socialites, and has 16 years digital marketing experience in some of New Zealand's top advertising agencies. However. that doesn't mean she hasn't made her fair share of mistakes in her career. Here, in her typically colourful way, she shares four mistakes she's learnt from all her years in business – and the important lessons she learnt from them.

Read more
 
 

The Kiwi start-up making edible coffee cups a reality

  • Design
  • June 18, 2019
  • Sarah Dunn
The Kiwi start-up making edible coffee cups a reality

The vanilla-flavoured, sog-resistant edible cups produced by Auckland company Twiice were four years in the making, but now they’re on the menu at Auckland cafes. We gave them a taste.

Read more
 

Social scoreboard

Zavy and The Register have worked together to create a scoreboard that compares how the top 25 traditional media advertising spenders in New Zealand have performed on social media over the past 30 days, updated in real time.

 
topics
Regional rollercoaster
What does retail look like in 2019 for ...
Concept to closet
Business coverage of New Zealand Fashion Week.
Town centres
A positive retail environment over the past 12 ...
Amazon Arrival
Keeping up with all things Amazon as it ...
The Retail Yearbook 2017
As we battle our way through the busiest ...
Hospitality enhancing retail
Some think food and integrated hospitality offerings will ...
The future is bright
We spoke with four retailers in their twenties ...
Spotlight on signage
At first glance, the humble in-store sign might ...
Red Awards 2016
The Red Awards for retail interior design celebrate ...
Auckland Unitary Plan
Auckland is changing. The Unitary Plan will decide ...
How to open a store
Sarah Dunn considers what it would take to ...
All things to all people
Kiwi retailers share their omnichannel strategies.
Rising stars
Retail's top young achievers.
Delivering on your promises
The sale isn't over until your item is ...
Retail in heartland New Zealand
Retailers keep the regions pumping, but how strong ...
Sisterhood
Women in retail help one another. We spoke ...
The changing face of retail
Shifting demographics are creating big changes in New ...
The retail yearbook
With the help of experts in the retail ...
Retail rogues
We put the spotlight on staff training. Jai ...
Here come the giants
Topshop has arrived in Auckland’s CBD, David Jones ...
From retail to e-tail
Ecommerce has become part of the way mainstream ...
Window shopping: A spotlight on social media
Sarah Dunn and Elly Strang look at how ...
Loyalty in the digital age
How are retailers maintaining loyalty? Sarah Dunn, Elly ...
The Innovators | In partnership with Spark Business
Technology is rapidly changing the retail industry as ...
 
News

Alibaba runs its Ecommerce Expo in New Zealand for the first time

Chinese conglomerate Alibaba Group reported revenue of more than US$56 billion this year, and in Alibaba.com it owns the world’s largest online B2B trading platform ...

 
 

The beauty of it: From start to success with cosmetics mogul Rowena Roberts

  • News
  • June 14, 2019
  • Courtney Devereux
The beauty of it: From start to success with cosmetics mogul Rowena Roberts

Rowena Roberts had zero experience in retail when she propositioned Estée Lauder to allow her to open a MAC Cosmetics store in New Zealand. Now, over 18 years later through her business Red Honey Cosmetics, she has sold luxury brands Jo Malone London, Bobbi Brown and MAC in New Zealand successfully. The cosmetics mogul talks to us on the most important aspects of running her businesses, and why no one should ever be afraid to do the literal dirty work.

Read more
 
Design

Spread the word: Pic’s Peanut Butter World opens

If all the world’s a stage, Pic’s Peanut Butter World is no peanut gallery.

 
Next page
Results for
Topics
Jobs
About us.

The Register provides essential industry news and intelligence, updated daily. And the digital newsletter delivers the latest news to your inbox twice a week — for free!

©2009–2015 Tangible Media. All rights reserved.
Use of this site constitutes acceptance of our Privacy policy.

Advertise
The Register

editor@theregister.co.nz

Content marketing/advertising? Email anita.hayhoe@icg.co.nz or call 022 639 3004

View Media Kit

}