Business
This store defied the Covid-19 retail assassination – Yahoo Finance Australia
Electronic retailer JB Hi-Fi has recorded major profits during the coronavirus pandemic.
Electronics retailer JB Hi-Fi has bucked the Covid-19 retail assassination, recording a 33.2 per cent profit and a 11.6 per cent uptick in sales in its 2019-20 financial year results.
It comes despite retail sales in Australia falling 3.4 per cent in the June quarter – their biggest drop since the GST was introduced in 2000.
The groups underlying earnings before interest and tax increased 30.5 per cent to nearly $500 million.
The strong operating leverage from the elevated sales growth and di…
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