Money JB Hi-Fi has beaten the retail crunch again to post record sales

12:26  13 february  2018
12:26  13 february  2018 Source:   businessinsider.com.au

Wesfarmers writes down Target by $300 million

  Wesfarmers writes down Target by $300 million Wesframers has written down the value its discount retail chain Target by $306 million after lower than expected sales for the first-half of the 2018 financial year. The impairment will be applied against the brand name ($238 million), remaining goodwill of $47 million and property and equipment ($21 million).“The impairment of Target reflects difficult trading conditions in an increasingly competitive market,” says Wesfarmers Managing Director Rob Scott.“Target’s earnings have stabilised and the business will continue to leverage the Department Stores structure to support its future performance.

Sales of smartphones, games, drones and computers helped consumer electronics chain JB Hi - Fi to record revenue in the first half, up 41% to .69 billion, putting it ahead of its own estimates . However, JB HI - FI stores had sales growth of 6.9% in January with comparable sales up 4.5%.

Jb Hi Fi Dvd Sale - Search for Jb Hi Fi Dvd Sale . Compare Shopping Deals and Get Smarter Price Information Here. www.couponbear.com/ Jb Hi Fi Dvd Sale . JB Hi - Fi has beaten the retail crunch again to post record

a man standing in front of a sign© Provided by Business Insider Inc

Sales of smartphones, games, drones and computers helped consumer electronics chain JB Hi-Fi to record revenue in the first half, up 41% to $3.69 billion, putting it ahead of its own estimates.

Statutory profit after tax was up 37.4% to $151.7 million.

CEO Richard Murray says it was a strong result for the JB HI-FI business in Australia, particularly through the important November and December periods.

"We are pleased with the progress we have made at The Good Guys and are confident about the future opportunities," he says.

Key growth categories were the communications, computers, audio, drones and games hardware.

Twitter Mocks Doritos "For Ladies That Don’t Like To Crunch Too Loudly"

  Twitter Mocks Doritos Whenever big brands launch unnecessarily gendered products – with the women's version naturally costing more – they are roundly ridiculed online, so it's a wonder that companies are still at it, bringing out pointless women-only versions of popular products. Did the BIC pens for Her debacle back in 2012 pass them by?The latest brand facing the ire of women online? Doritos, owned by food and drinks giant PepsiCo, which announced it is to launch new "lady friendly" crisps that don't crunch as loudly or make as much of a mess as the regular version, and can fit in women's dainty little handbags.

JB Hi - Fi has beaten the retail crunch again to post record Sales of smartphones, games, drones and computers helped consumer electronics chain JB Hi - Fi to record revenue in the first half, up 41% to .69 billion, putting it

JB Hi - Fi has beaten the retail crunch again to post record sales . JB Hi - Fi Ltd. engages in the retailing of home consumer products from stand-alone destination sites, shopping center locations, and online stores.

Online sales grew 40.6% to $119.3 million or 4.8% of total sales.

Other bricks and mortar retailers, hit by increasing digital competition and subdued consumer sentiment, have reported weak trading for Christmas and New Year.

Target stores could soon turn into Kmart outlets – or simply disappear

  Target stores could soon turn into Kmart outlets – or simply disappear The future of embattled department store Target became a little clearer on Monday when parent company Wesfarmers revealed it would be shrinking the retail chain.It was part of what Wesfarmers calls its new “brand agnostic” approach, which could see unprofitable Target stores across Australia converted into more profitable Kmart stores.In a media conference on Monday, Wesfarmers managing director Rob Scott revealed lower-than-expected sales at Target had forced the company to record a “non-cash impairment” of $300 million — which, for any non-accountants who might be reading, is not a good thing.

JB Hi - Fi has beaten the retail crunch again to post record sales . Business Insider Australia 27d. JB Hi - Fi had the perfect comeback to someone complaining about Apple's Fed Square project in Victoria.

Consumer electronics retailer JB Hi - Fi has again defied the retail slowdown, posting a 13.2% rise in full year net profit of 2.4 million as revenue jumped 42% to a record .62 billion.

However, JB HI-FI stores had sales growth of 6.9% in January with comparable sales up 4.5%. Sales for The Good Guys -- the whitegoods retailer JB HI-FI acquired for $870 million in November, 2016 -- was down 3.5% with comparable sales growth of -4.7%.

The company today declared a dividend of 86 cents, up 19.4%.

Seven new JB HI-FI stores were opened in Australia and one JB HI-FI store was closed in New Zealand during the half year to December. Two new The Good Guys stores were opened. The company now has 311 stores in Australia and New Zealand.

For the full year, the company expects total sales to be about $6.85 billion, with $4.75 billion from JB HI-FI and $2.1 billion from The Good Guys.

Group profit will be between $235 million and $240 million, an increase of 13.1% to 15.5%.

The 2018 half year to December half-year results:

a close up of text on a white surface© Provided by Business Insider Inc

Coles supermarket sales slow, adding to Wesfarmers' Bunnings UK woes .
Earnings at the country's second biggest supermarket chain fell 14 per cent.Coles' sales growth has again slowed and its earnings have gone backwards, compounding woes for parent company Wesfarmers, which has seen its half-year profit plunge 86 per cent after its disastrous hardware expansion into the northern hemisphere.

Source: http://au.pressfrom.com/news/money/-55183-jb-hi-fi-has-beaten-the-retail-crunch-again-to-post-record-sales/

—   Share news in the SOC. Networks

Topical videos:

This is interesting!