JB Hi-Fi started as a single music and hi-fi store in Melbourne in 1974. Today it is Australia’s biggest electronics retailer. Here’s how it makes its money.
JB Hi-Fi is Australia’s largest consumer electronics retailer, and one of the biggest retailers on the ASX.
It was founded in 1974 by John Barbuto, who opened a store in Keilor, Melbourne, selling records and hi-fi equipment. The company is based in Melbourne, reports in Australian dollars, and its financial year ends on 30 June.
Its stores
JB Hi-Fi stores sell TVs, phones, computers, gaming, music, movies and other technology, in Australia and New Zealand. It is also a major seller of technology to businesses, schools and governments.
In 2016, it bought The Good Guys, which sells household appliances such as fridges, washing machines and air conditioners, as well as electronics. In 2023, it bought most of e&s, a Melbourne appliance, kitchen and bathroom retailer.
Low costs, low prices
JB Hi-Fi is known for running its stores very cheaply. Its stores are simple, with yellow price tags and products stacked high, it spends relatively little on marketing compared with its sales, and its staff are paid partly through bonuses linked to performance.
Low costs let it offer low prices while still making a profit. Its sales per square metre are among the highest of any Australian retailer.
It earns extra money from selling warranties, accessories, installation and phone and internet plans.
The risks
Electronics sales can rise and fall sharply depending on how confident households feel, interest rates, and new products, such as gaming consoles and new phones.
The risks include weaker consumer spending, competition from Amazon, Harvey Norman and others, price rises from suppliers, stock shortages, and changes in technology that reduce demand for some products.
Nick Wells has been chief executive since 2023.
Latest results, as at 9 November 2026
Full year to June 2026, reported 17 August 2026: sales rose 4.8 per cent to a record $11.06 billion, and underlying profit rose 2.9 per cent to $490 million. JB Hi-Fi Australia’s sales rose 4.4 per cent, The Good Guys 2.7 per cent and New Zealand 26 per cent. Sales growth slowed sharply through the year, and July sales fell in Australia. JB Hi-Fi paid total dividends of $3.37 a share, up 22.5 per cent. Its shares had their worst day in more than a year after the result.
Next update: JB Hi-Fi reports its half-year results, to December 2026, in February 2027.
