JB Hi-Fi Loses $2.9 Million in NZ

[FletchNZ]

Woah.

JB Hi-Fi expects to see another year of declining revenues on this side of the Tasman as the ASX-listed discount consumer electronics retailer attempts to drive profitability in its New Zealand unit.

The local division of the Melbourne-based company widened its loss before interest and tax to $2.9 million in the 12 months ended June 30 from an ebit-loss $2.7 million a year earlier. Not only did margins shrink, but revenue dipped 1.1 per cent to $231.5 million with the closure of one store and exit from whiteware goods. JB Hi-Fi closed another unprofitable New Zealand store last month and forecasts revenue of $220 million for the local unit in the 2019 financial year.

But they are making profits in Australia.

While the New Zealand division struggled, JB Hi-Fi's group sales climbed 22 per cent to A$6.9 billion, underpinning a 12 per cent gain in profit to A$233.2 million. The board declared a final dividend of 46 Australian cents per share, taking the annual return to A$1.32, up from A$1.18 a year earlier.

https://www.nzherald.co.nz/business/...ectid=12106136

I hope they don't pull out of NZ altogether or we'll have no retailer with a halfway decent selection.

[Hucksta G]

I wonder if their prices were more like Australia's if they'd actually make more, as more people would be encouraged to go there.

[Hucksta G]

Originally Posted by FletchNZ

I hope they don't pull out of NZ altogether or we'll have no retailer with a halfway decent selection.

The closest we'd have is Mighty Ape but I do prefer getting something from a store.

[LordCrumb]

Meh, I'm not worried.. as long as their AU branches still ship to NZ.

[FletchNZ]

Originally Posted by LordCrumb

Meh, I'm not worried.. as long as their AU branches still ship to NZ.

I am getting errors with that at the moment. Put stuff in the cart over the last few days and now it is saying - "This item is not available for delivery to your selected address." - Emailed them and nothing yet. Maybe they are out of stock.

[Lavochkn]

Originally Posted by FletchNZ

I am getting errors with that at the moment. Put stuff in the cart over the last few days and now it is saying - "This item is not available for delivery to your selected address." - Emailed them and nothing yet. Maybe they are out of stock.

Been happening periodically over the last few months. Support will tell you that it is an intentional thing due to stock availability and international shipping depots etc, but i'm pretty certain it is just a system fault that they can't get right, as it has corrected after a week or so every time it has happened to me over the last year (at least 3 times).

To the JB NZ point - i'm not surprised. Maybe they should cut down on staff.. every time I enter my local JB there are at least 5 staff standing around doing nothing at any given time.

But seriously, as long as I can still order from JB AUS, I will, since prices and stock selection is far superior there.

[Hucksta G]

Originally Posted by Lavochkn

But seriously, as long as I can still order from JB AUS, I will, since prices and stock selection is far superior there.

I always find the Aus one such a hassle to order through whether they say a product isn't available to deliver to NZ or the amount of time they take to get here.

[Lavochkn]

Originally Posted by Hucksta G

I always find the Aus one such a hassle to order through whether they say a product isn't available to deliver to NZ or the amount of time they take to get here.

That's true - though I think they have gotten better in regards to shipping times. Mine vary from anywhere between a month to a week and a half. Used to be closer to a month, but my last few orders have been on the other end of the scale.

I pretty much exclusively buy from JB AUS during their sales so it isn't too bad when buying in bulk.

[Hucksta G]

Originally Posted by Lavochkn

That's true - though I think they have gotten better in regards to shipping times. Mine vary from anywhere between a month to a week and a half. Used to be closer to a month, but my last few orders have been on the other end of the scale.

I pretty much exclusively buy from JB AUS during their sales so it isn't too bad when buying in bulk.

Might start trying it again, there’s a few things there I want that never got a release here

[LordCrumb]

I think I've bought from Mighty Ape maybe twice in several years.. their prices are just not competitive enough and their shipping prices are too high.

[Alister_M]

The shipping speed from JB AU is entirely AusPost's fault, they've always been a retarded mickey mouse outfit and probably always will be.

[bell_packet]

Agreed on Mighty Ape's non-competitive prices, I can count on one hand the number of times I've ordered from them. They'll never have awesome sales like the 50% off one twice a year, or the 20% off sales. Not to mention the steelbooks.

Originally Posted by Alister_M

The shipping speed from JB AU is entirely AusPost's fault, they've always been a retarded mickey mouse outfit and probably always will be.

Yeah, I've heard a lot of complaints about them and whenever I order something from Aussie it takes so damn long to get here. I've gotten orders sent from the UK after ones dispatched from Oz that have gotten here faster.

[Hucksta G]

It's $4 a month or something like that to get free shipping from mighty ape and every now and then they have pretty good blu-ray deals in the daily deals.

Also they've never sent me a $10 voucher

[bell_packet]

Originally Posted by Hucksta G

Also they've never sent me a $10 voucher

Do you have your birthday entered into your account? I can't remember if it's required but that might explain it, I get one every year for mine.

[FletchNZ]

I ordered from Mighty Ape a few weeks back for the first time - a multi-plug power board, and they sent me a $10 voucher. It has to be used within 30 days though before it expires.

[Hucksta G]

Originally Posted by Armchair NZ

back to JB NZ, to their credit they did do a 50% off (most) Blu-rays sale this year at about the same time as the Aussie B1G1F. Hopefully they decide to make it an annual thing

The JB NZ Super Wednesdays are good, I just wish they were more frequent

[bell_packet]

Originally Posted by Armchair NZ

back to JB NZ, to their credit they did do a 50% off (most) Blu-rays sale this year at about the same time as the Aussie B1G1F. Hopefully they decide to make it an annual thing

Isn't it already an annual thing? Pretty sure they're in May and November and we've had at least three of them from what I recall?

[FletchNZ]

Originally Posted by Lavochkn

Been happening periodically over the last few months. Support will tell you that it is an intentional thing due to stock availability and international shipping depots etc, but i'm pretty certain it is just a system fault that they can't get right, as it has corrected after a week or so every time it has happened to me over the last year (at least 3 times).



.

For whatever reason, they tell me that if I remove Enter The Dragon from my cart, that the other blu-rays will able to be delivered. I tried, and it does work, but I don't see why they cannot ship it.

[Hucksta G]

Originally Posted by FletchNZ

For whatever reason, they tell me that if I remove Enter The Dragon from my cart, that the other blu-rays will able to be delivered. I tried, and it does work, but I don't see why they cannot ship it.

That's weird

[L-Rouge]

Man, there is a good depression in electronic goods like this, I look at my local warehouses (3 within striking distance). and their Blu-ray selection is a fraction of its former glory. 2 aisles worth of movies down to 2 shelves for blu ray alone.


And for me personally, my latest release purchase would be Bladerunner, purchased 8 or so months ago.