JB Hi-Fi Limited
(ASX:JBH) says it is on track to meet its full year sales targets as it continues to open new stores and expands into the home appliances market.
The company's total sales rose by just over 8 per cent in the three months to September 30, while comparable sales growth in that period was 2.9 per cent.
JB Hi-Fi still expects to grow sales by between six and eight per cent in fiscal 2014.
The electronics retailer expects to open 12 new stores in the year, and a further ten stores will be converted to a new home goods format.
JB Hi-Fi had 176 stores across Australian and New Zealand as of the June 30, and plans to eventually grow to 214 stores.
JB Hi-Fi delivered a net profit of $116.6 million in fiscal 2013.
