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JB Hi-Fi has seen sales grow 20% through the pandemic as Australians stayed at home for work and entertainment

Sharon Masige
  • JB Hi-Fi Australia has seen a 20% rise in sales during the first half of the year as Australians work, learn and entertain themselves at home.
  • The Good Guys also saw a jump in sales during this period, up 23.5%.
  • This is despite JB Hi-Fi investing in safety measures to protect workers and customers from the coronavirus.
  • Visit Business Insider Australia’s homepage for more stories.

JB Hi-Fi and The Good Guys have seen sales rocket through the coronavirus pandemic.

JB Hi-Fi Australia revealed a 20% rise in sales between January 1 and May 31 2020, while The Good Guys - which it acquired in 2016 - reported a 23.5% increase during the same period.

This growth comes as Australians work, learn and entertain from home during the pandemic. JB Hi-Fi's sales have performed well enough that the company hasn't been impacted by its investment in coronavirus-related safety measures like customer limits in stores, hand sanitiser stations and protective screens at counters.

"Strong operating leverage from this elevated sales growth, combined with disciplined cost control, has more than offset the investment in additional operating costs associated with ensuring team members and customers remain safe during COVID-19," JB Hi-Fi said in a statement.

While Australian sales have done well, JB Hi-Fi's New Zealand operations were affected by the country's government-enforced closures. They have since restarted operations.

JB Hi-Fi Group CEO Richard Murray thanked the company's more than 12,000 employees for their during this time.

"Our customers have continued to turn to us for their technology and home appliance needs and our team members have responded and adapted in an amazing manner to make sure we can do it safely and effectively," he said in a statement.

With the group's strong performance during April and May - and given there aren't any major disruptions to trading - it expects total sales during the 2020 financial year to reach around $7.86 billion.

JB Hi-Fi and The Good Guys are among the number of businesses that have reported higher sales as Aussies flocked to buy equipment when working from home.

Officeworks and Bunnings parent company Wesfarmers cited an 89% growth in online sales among its retail businesses, while Kogan doubled its sales in April and May.