At its most recent results announcement, JB Hi-Fi signalled it was expecting strong growth in sales thanks to “a good pipeline of new products” between August and the end of the year, and it wasn’t wrong: a swathe of new phones, convertibles and gaming consoles have given JB Hi-Fi a much needed boost. Here’s what’s the company has been selling most of.
Richard Murray, JB Hi-Fi’s newly minted CEO addressed the company’s Annual General Meeting, and crowed about how the company is now looking at positive sales growth thanks to the launch of new products.
Products like the new iPhone 6 and Microsoft Surface Pro 3 have been walking out the door at JB Hi-Fi, leading to positive results for the retailer.
The restocking of next-gen Xbox One and PlayStation 4 consoles have also been a boon to sales and will “help drive sales through the Christmas period,” according to CEO Murray.
The company highlighted in August that the sluggish sales of tablets as well as poor consumer sentiment looked set to negatively affect the company’s sales figures for the year, but these new products have lifted those numbers back into positive territory.
Online sales are also driving revenue, with a 13.9 per cent increase in sales in FY2014.
The company’s stock is up eight per cent on the ASX as a result of today’s address. [JB Hi-Fi]