Stronger sales at JB Hi-Fi have fuelled hopes that a prolonged period of weak consumer demand is coming to an end, with investors now predicting a better-than-expected earnings season for listed retailers after months of soft trading.
The electronics and consumer goods giant has been among the first to report full-year earnings, with sales across its businesses including The Good Guys down 0.4 per cent to $9.59 billion in the 12 months to June 30. Profits fell 16.4 per cent to $438.8 million.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
