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Young tech shoppers to drive retail sales, says JB Hi-Fi boss

Carrie LaFrenz
Carrie LaFrenzSenior reporter

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Retail sales this year will be driven by younger consumers looking for the latest technology models and by shoppers upgrading their home offices, JB Hi-Fi chief executive Terry Smart believes, despite the shaky consumer outlook.

The $5 billion company reported record revenue and earnings in fiscal 2022 driven by consumer electronics and home appliances, helping to push its bottom line higher by 7.7 per cent to $544.9 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

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    Original URL: https://www.afr.com/companies/retail/jb-hi-fi-posts-7-7pc-net-profit-jump-july-strong-20220814-p5b9pa