JB HiFi sees profits jump

Australia: Says focus on consumer electronics has shielded it from economic problems
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One of Australia's leading consumer electronics chains has seen its profits jump by 61 per cent, boosted by in part by continuing strong demand for consumer electronics and entertainment products.

The retailers, which specialises in consumer electronics, computers, DVDs and video games, has seen its profits soar as it continues its aggressive store roll out.

The company, which had just ten stores in 2000, now has 89 and is planning to open a further 24 during 2009. Speaking to CRN Australia, JB HiFi's chief executive Richard Uechtirtz said: "Computer sales grow bigger as the months move on, and the computer business is a very happy one for JB.

"We're relatively new – having finished rolling out computer sales in our major stores since June 2007. However, in our first full year – despite a number of stores still making room to sell IT – I can say that computer sales has strongly continued to sales profit," Uechtritz added.

He put much of the retailer's success down to its focus on consumer electronics rather than the traditional IT accompaniment of white goods and furniture.

"Retail is about getting people into stores. We sell everything from software, music to DVD home entertainment and regular customers that come into the shop walk straight our computer section, so in the back of their minds they know to consider going to JB for their IT needs."

"JB is doing well because we only deal in IT and home entertainment. We don’t have to deal with furniture and white goods," he added.

Image used courtesy of James Ballantine

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