{"id":180219,"date":"2025-12-12T13:14:13","date_gmt":"2025-12-12T13:14:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/180219\/"},"modified":"2025-12-12T13:14:13","modified_gmt":"2025-12-12T13:14:13","slug":"jb-hi-fi-new-zealand-posts-bumper-sales-as-net-loss-narrows-to-1-4m","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/180219\/","title":{"rendered":"JB Hi-Fi New Zealand posts bumper sales as net loss narrows to $1.4m"},"content":{"rendered":"<p class=\"ZYUOfoYRjneFbDGdUm\" style=\"display:none\">Software sales did decrease in the year, dropping from 5.6% of total sales to 4.8%.<\/p>\n<p class=\"ZYUOfoYRjneFbDGdUm\" style=\"display:none\">JB Hi-Fi also managed to increase its gross margin percentage, up six basis points to 17%, and reduced its cost of doing business (CODB) by 86 basis points to 14.7%.<\/p>\n<p class=\"ZYUOfoYRjneFbDGdUm\" style=\"display:none\">Inventory for the business has grown over the year, up from $53.9m to $69.6m, an increase of 29%.<\/p>\n<p class=\"ZYUOfoYRjneFbDGdUm\" style=\"display:none\">Despite the performance, the business still reported a net loss of $1.4m for the year. Although this was an improvement on the $6.7m loss made in 2024.<\/p>\n<p class=\"ZYUOfoYRjneFbDGdUm\" style=\"display:none\">JB Hi-Fi has 23 stores across New Zealand after opening four new stores in the year, with group chief executive officer Nick Wells confirming a further three stores will open in the 2026 financial year during the business\u2019 annual shareholder meeting.<\/p>\n<p class=\"ZYUOfoYRjneFbDGdUm\" style=\"display:none\">Wells recently replaced former chief executive Terry Smart, who retired from the group on October 3.<\/p>\n<p class=\"ZYUOfoYRjneFbDGdUm\" style=\"display:none\">\u201cIt has been another strong year of sales and earnings, as we built on the momentum of the previous year,\u201d Smart said.<\/p>\n<p class=\"ZYUOfoYRjneFbDGdUm\" style=\"display:none\">\u201cThe company stayed focused on its core proposition of driving great value and delivering consistently high levels of customer service which continued to resonate with our customers.\u201d<\/p>\n<p class=\"ZYUOfoYRjneFbDGdUm\" style=\"display:none\">JB Hi-Fi gave an update on its first quarter performance in October, with the New Zealand business reporting total sales growth of 39.3%, up from 19.6% in the prior corresponding period.<\/p>\n<p class=\"ZYUOfoYRjneFbDGdUm\" style=\"display:none\">Comparable sales growth also lifted, up 24.3% in the first quarter compared to just 2.7% in the prior period.<\/p>\n<p class=\"ZYUOfoYRjneFbDGdUm\" style=\"display:none\">JB Hi-Fi New Zealand managing director Tim Edwards has been approached for comment.<\/p>\n<p class=\"ZYUOfoYRjneFbDGdUm\" style=\"display:none\">Tom Raynel is a multimedia business journalist for the Herald, covering small business, retail and tourism.<\/p>\n<p>Stay ahead with the latest market moves, corporate updates, and economic insights by subscribing to our <a href=\"https:\/\/www.nzherald.co.nz\/my-account\/profile\/newsletters\/?from=cmp\" target=\"_self\" rel=\"nofollow noopener\" title=\"https:\/\/www.nzherald.co.nz\/my-account\/profile\/newsletters\/?from=cmp\">Business newsletter<\/a> \u2013 your essential weekly round-up of all the business news you need.<\/p>\n","protected":false},"excerpt":{"rendered":"Software sales did decrease in the year, dropping from 5.6% of total sales to 4.8%. JB Hi-Fi also&hellip;\n","protected":false},"author":2,"featured_media":180220,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[37228,836,114774,806,18658,138,1656,3311,1644,658,88856,88855,2225,1132,21437,11781,117,111,139,69,18935,15267,667,145,61,379,80],"class_list":["post-180219","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-14m","tag-836","tag-114774","tag-as","tag-bumper","tag-business","tag-company","tag-consumer","tag-financial","tag-goods","tag-hifi","tag-jb","tag-loss","tag-million","tag-narrows","tag-net","tag-new","tag-new-zealand","tag-newzealand","tag-nz","tag-posts","tag-reported","tag-sales","tag-technology","tag-to","tag-year","tag-zealand"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/180219","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=180219"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/180219\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/180220"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=180219"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=180219"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=180219"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}