JB Hi-Fi NZ Sales Surge, Four New Stores Planned
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Electronics retailer JB Hi-Fi has lifted New Zealand sales by 20.8% to NZD 396 million in the 2024 financial year, narrowing its loss before tax to NZD 0.2 million.
JB Hi-Fi now operates 23 stores nationwide, including the JB Hi-Fi inside Invercargill Central, which celebrated its first birthday in February. The retailer plans to open four more New Zealand stores by July next year, signalling continued confidence in the local market despite a still-slim loss.
Across the Tasman, the group’s Australian operations remain robust. JB Hi-Fi operates JB Hi-Fi, The Good Guys, and e&s in Australia, with the latest results showing strong sales and profit growth driven by demand across technology and home appliances.
A leadership transition is also underway. Group CEO Terry Smart has announced he will retire in October 2025. He will be succeeded by Nick Wells, the current Chief Operating Officer and former CFO, ensuring continuity as the company executes its growth plans on both sides of the Tasman.
With sales momentum in New Zealand, a growing store network—including Invercargill’s milestone—and solid Australian performance, JB Hi-Fi is positioning for further expansion.
Related:
JB HI-FI Staff Get Wet Not Dry This July
Some people do ‘Dry July’ - Invercargill JB HI-FI has started a new trend- cold water plunging in the middle of winter instead. And it’s all in the name of mental health. Invercargill manager Tony Keay said the business supported six charity ‘Helping Hand’ partners including McKenzie’s gift
Aimee Wilson