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JB Hi-Fi ups guidance on strong sales

Electronics retailer, JB Hi-Fi, expects net profit after tax to be between $112 million and $116 million, a 7 per cent to 11 per cent rise over last year, driven by stronger than expected sales in the second half of FY13.

The electronics maker's earlier guidance was NPAT between $108 million and $112 million.

It has also revised its sales guidance slightly upwards to $3.3 billion from an earlier forecast of about $3.25 billion.

Its comparable store sales growth was down slightly at 1.3 per cent. Overall sales for the 10 months ending April 30 were up by 4.9 per cent.

JB Hi-Fi opened 13 new stores in FY13, all in Australia. As of June 2013, it had 177 stores, out of which 164 were in Australia and rest in New Zealand.


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