JB Hi-Fi Limited Half Year 2021 Results Update

JB Hi-Fi Limited (“Group”) today reports the following preliminary unaudited HY21 financial results (post the adoption of AASB 16) for the 6 months ending 31 December 2020.

Sales momentum was strong throughout the half, with continued elevated customer demand for consumer electronics and home appliance products.

This, combined with exceptional growth in online sales and a wellexecuted Black Friday promotional period, more than offset the impact of the government mandated temporary store closures during the half.

Online sales were up 161.7% to $678.8m, representing 13.7% of total sales. Gross margins were well managed with strong improvements in gross margins in key categories, particularly in The Good Guys, but offset by sales mix in JB HI-FI Australia and JB HI-FI New Zealand.