JB Hi-Fi New Zealand Sales Jump 26 Per Cent
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JB Hi-Fi's New Zealand operation had a very good year. A remarkably good one, actually.
Total sales surged 26.0% to NZD499.5 million in the year to June 30, 2026, with comparable sales up 15.3%. That outpaced every other part of the group. Online sales jumped 36.7% to NZD86.2 million, now accounting for more than one in every six dollars spent.
Growth wasn't built on one lucky category. Mobile phones, computers, audio, small appliances and games hardware all contributed. Gross profit rose 29.1% to NZD86.9 million, and the business managed to cut its cost of doing business ratio even while spending more on new stores. The result: EBIT of NZD4.1 million — a NZD4.3 million swing from the prior year.
Group CEO Nick Wells said the New Zealand business "continues to resonate with customers and expand its reach."
The wider JB Hi-Fi group posted record sales of $11.06 billion, up 4.8%, with net profit after tax of $489.9 million. The board lifted the total ordinary dividend 22.5% to 337 cents per share — a 75% payout ratio — after raising its target payout range to 70–80%. The group finished the year sitting on net cash of $206.5 million.
Australia's JB Hi-Fi stores grew total sales 4.4% to $7.42 billion. The Good Guys, trading in a softer home-appliance market, still managed 2.7% sales growth to $2.94 billion, with online up 13.1% and underlying EBIT growing 6.0% to $184.0 million.
Early signs for the new financial year suggest New Zealand isn't slowing down. July trading showed total sales up 20.9% and comparable sales up 11.7%. Australia was a different story — both JB Hi-Fi and The Good Guys recorded modest sales declines as customers hunted for value deals, and technology categories faced supplier price rises and stock shortages.
Wells said the group would stay focused on "creating great value offers for our customers, leveraging our strong supplier relationships to maximise stock allocations and delivering exceptional customer service."
In other words: keep the shelves stocked, keep the prices sharp, and hope the supply chain gods stay cooperative. For New Zealand at least, the formula is working.