JB Hi-Fi Limited (ASX:JBH) has affirmed its fiscal 2014 profit guidance and says its CEO transition will take place at the beginning of the new financial year.
The electronic retailer’s outgoing CEO Terry Smart will leave on June 30 to be replaced by Executive Director and CFO Richard Murray.
JB Hi-Fi has confirmed its annual net profit is expected to grow between 8.3 per cent to 10.8 per cent to between $126 million and $129 million.
Annual sales growth of about 5.3 per cent from last year is expected, which is down from guidance of between 6 and 8 per cent at the time of JB Hi-Fi’s interim results.
JB Hi-Fi boosted its net profit by 10 per cent to $90.3 million in the first half of the 2014 financial year.
