JB Hi-Fi has reported record first-half sales and earnings for the six months to 31 December 2025, supported by continued demand for consumer electronics and home appliances, while flagging ongoing caution around broader retail conditions.
The group posted total sales of $6.10 billion for HY26, up 7.3%, alongside earnings before interest and tax (EBIT) of $454.0 million, up 8.1%, and net profit after tax (NPAT) of $305.8 million, up 7.1% year-on-year.
JB Hi-Fi Group CEO, Nick Wells said the result built on momentum from the previous year.
“We are really pleased to report record sales and strong earnings for 1H26 as we built on the momentum of the previous year,” Wells said.
Within the core Australian business, sales rose 6.3% to $4.12 billion, with comparable sales up 5%, driven by demand for technology and consumer electronics and strong promotional execution.
Wells said mobile phones remained a key contributor, particularly premium devices, while small appliances continued to perform strongly across coffee machines, robotic vacuum cleaners and kitchen appliances.
“Small appliances, the momentum in this category remains really strong with coffee robotic vacuum cleaners and kitchen appliances all performing well,” he said.
Gaming and computing also supported growth, with hardware sales benefiting from new product releases such as the Nintendo Switch 2, alongside continued demand for AI-enabled PCs and wearable technology.
Online sales in the Australian division increased 11.2% to $759 million, representing 18.4% of total segment sales.
The New Zealand division delivered the strongest growth across the group, with sales increasing 32.6% to NZ$268.6 million and comparable sales up 20.2%. EBIT more than doubled to NZ$4.5 million.
“It was pleasing to see our performance improve in New Zealand and to record strong sales and earnings growth having been investing in growing the business in that market over the past few years,” he said.
The Good Guys posted sales growth of 4.1% to $1.58 billion, supported by strong promotional trading across Black Friday and Boxing Day and continued demand for home appliance categories.
Online sales increased 14% to $266.1 million, while EBIT rose 8% to $107.4 million.
Meanwhile, recently acquired premium appliance retailer e&s delivered $144.8 million in sales for the half. On a comparable six-month basis, sales rose 2.9%, as the group continued to invest in store expansion and commercial capabilities.
For January 2026, sales continued to grow across most divisions, with Australia up 4%, New Zealand up 26.4% and The Good Guys up 2.7%. However, e&s sales declined 4.6%, reflecting softer trading conditions in parts of the market.
“Whilst we’re pleased to see sales growth continuing in January in JB Hi-Fi and The Good Guys, particularly cycling strong sales in the prior year, we remain cautious, given the uncertainty in the retailing market and continued competitive activity,” he said.
Looking ahead, the group plans to open three new New Zealand stores, four new Australian stores and one new e&s location in FY26, alongside selected relocations and continued investment in commercial and supply chain capabilities.
Wells said the group would continue focusing on operational efficiency and customer experience while expanding marketplace and membership capabilities to support long-term growth.
