Electronics retailer JB Hi-Fi has reinstated and upped its full-year guidance after the coronavirus lockdown prompted a bumper crop of sales over the last few months.
"Strong operating leverage from this elevated sales growth, combined with disciplined cost control, has more than offset the investment in additional operating costs associated with ensuring team members and customers remain safe during COVID-19," the company said. Fellow electronics retailer Harvey Norman reported a similar rise in sales yesterday, with trade at the company's Australian storesThe company's New Zealand-based stores remain a dark spot, with sales down 19.3 per cent due to a government-mandated closure of the 14 stores. JB expects to report a $25 million impairment of the carrying value of the stores for the full-year.Eamon Gallagher
"Our customers have continued to turn to us for their technology and home appliance needs and our team members have responded and adapted in an amazing manner to make sure we can do it safely and effectively."
domp Excellent increase!!
domp Advert. Media’s manipulative practices.
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