JB Hi-Fi's (ASX:JBH) online sales not enough to boost profit

Company News

by Lauren Evans

Online sales in JB Hi-Fi (ASX:JBB) soared 62.6 per cent last year to $1.1 billion, representing 22.7 per cent of total sales. However, the electronics retail giant has flagged that for the 6 months to December, net profit after tax is set to fall by 9.4 per cent.

The company expects to see continued heightened customer demand for both consumer electronics and home appliance products. For the half year, total sales were down 1.6 per cent on the prior year to $4.86 billion, but up 21.7 per cent over a two-year period.

The company will release its half year audited statutory results on February 14.

Shares in JB Hi-Fi (ASX:JBB) are trading 7.2 per cent higher at $50.

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