JB Hi-Fi has recorded a massive 50 per cent increase in sales in the six months leading up to Christmas 2007 from the same period the year before, with CEO Richard Uechtritz attributing the success to strong buying power and a unique store model that includes a new roll-out of IT and computer products across Australia.
Sales of IT and computers contributed to “a significant category” of the company’s sales, with games, DVDs and visual products including plasmas and LCDs also growing, said Uechtritz.
While the report includes sales for the six months leading up to 31 December, the Christmas period contributed a lot to the company’s success, with Uechtritz calling sales throughout this period “very good”, with “all categories either meeting or exceeding expectations.”
“We are delighted with another great result,” said Uechtritz, after earning 988.5 million in sales compared with $658.9 million the year before.
“Our unique and technology focussed retail model continues to perform strongly.”
JB Hi-Fi began to stock computers and related IT products in mid-2006, with the company announcing an IT-only store in Melbourne to partner with the retailer’s main Melbourne consumer electronics store on Elizabeth Street.
JB Hi-Fi also successfully rlled-out mobile telecommunications-based stores throughout the period in Victoria, Queensland and New Zealand, with more stores of the ilk coming by April this year.