Incoming JB Hi-Fi chief executive ­Richard Murray says sales of consumer electronics have softened since the ­federal budget but the retailer ­has managed to maintain profit growth by cutting costs and controlling gross ­margins.

Mr Murray, who is due to take the helm from Terry Smart in July, ­reaffirmed JB Hi-Fi’s earnings guidance on Thursday, to avoid being “tarred with the same brush" as a slew of ­discretionary retailers which have downgraded earnings in the wake of a sharp slump in consumer confidence and spending since the budget.