JB Hi-Fi Limited (ASX: JBH) says it has had a strong start to the new financial year, with comparable sales growth of 5.1% for July.
The consumer goods retailer, which operates under the JB Hi-Fi and Good Guys brands across Australia, said while the retail market "remains uncertain", the group was pleased to see sales momentum continue into July, "supported by new product launches and an improved stock position''.
JB Hi-Fi's sales across the group came in at $10.55 billion in FY25, up 10%, while net profit was up 5.4% to $462.4 million.
"July sales were in line with the group's expectations,'' JB Hi-Fi said in its annual report released on Friday.
"As always, the retail market remains uncertain, but the team's unwavering focus on the customer, their ability to adapt and innovate and our focus on driving best value in our categories will ensure our brands remain top of mind with shoppers.
"We look forward to another successful year in FY26.''
The annual report showed that outgoing chief executive officer Terry Smart was paid $5.32 million in FY25, up from $5.18 million the previous year.
JB Hi-Fi shares were 0.5% higher on Friday, at $114.45. The stock hit a 12-month high of $121 in August and is well above its low over the period of $77.48.
Data points to more sales strength
Macquarie said earlier this week that its proprietary High Frequency Consumer Data series pointed to continued momentum for JB Hi-Fi, with spending on electronics "still in mid-to-high single digit growth versus the previous corresponding period''.
