JB Hi-Fi facts for kids
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| Public | |
| Traded as |
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| Industry | Retail |
| Founded | Keilor East, Victoria, Australia (1974; 51 years ago) |
| Founder | John Barbuto |
| Headquarters | Southbank, Victoria, Australia |
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Number of locations
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330 (2024) |
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Area served
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Key people
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| Products | |
| Revenue | A$9.59 billion (2024) |
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Operating income
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A$627.4 million (2024) |
| A$438.8 million (2024) | |
| Total assets | A$3.486 billion (2024) |
| Total equity | $1.559 billion (2024) |
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Number of employees
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15,000 (2024) |
| Subsidiaries | The Good Guys |
JB Hi-Fi Limited is a well-known Australian company. It sells all sorts of cool electronics. You can find their stores in Australia and New Zealand. The company is listed on the Australian stock market. Its main office is in Southbank, Melbourne, Victoria.
As of June 2024, JB Hi-Fi has 330 stores. This includes 205 JB Hi-Fi and JB Hi-Fi Home stores in Australia. There are also 19 JB Hi-Fi stores in New Zealand. Plus, they own 106 The Good Guys stores in Australia.
Contents
The Story of JB Hi-Fi
How it Started (1974–2009)
JB Hi-Fi began in 1974 in a suburb of Melbourne called Keilor East. A man named John Barbuto started it. He sold music and special sound equipment.
In 1983, John Barbuto sold the business. The new owners, Richard Bouris, David Rodd, and Peter Caserta, helped it grow. By 2000, JB Hi-Fi had ten stores in Melbourne and Sydney. Later, in 2003, the company became public. This meant people could buy shares in it on the ASX stock market.
JB Hi-Fi bought 70% of the Clive Anthonys stores in Queensland in 2004. In 2006, they bought the Hill and Stewart electronics chain in New Zealand. They later opened their own JB Hi-Fi stores there. All Hill and Stewart stores closed by 2010.
Growing Bigger (2010–2019)
By 2010, there were 10 JB Hi-Fi stores in New Zealand. This number grew to 13 by 2011.
In 2015, something important happened. A young man with Down syndrome was not allowed into a store. This was a mistake, as he was confused with someone else. The company's CEO, Richard Murray, quickly said sorry to the family.
A big change happened in 2016. JB Hi-Fi bought another company called The Good Guys. This cost $870 million. This purchase made JB Hi-Fi a much larger player in the electronics and home appliance market.
By 2018, JB Hi-Fi was one of the top consumer electronics retailers in the world.
Recent Times (2020–Present)
By 2020, JB Hi-Fi's sales changed a lot. They sold fewer music CDs, DVDs, and video games. Instead, they sold more hardware like TVs, phones, and computers. Software sales made up only 8% of their total sales in 2020. This was much less than the 27% in 2010.
In April 2021, Richard Murray, who had been the CEO for seven years, left the company. Terry Smart, who was in charge of The Good Guys, took over as the new CEO.
In August 2024, JB Hi-Fi announced plans to buy a large part of E&S Trading. This company sells kitchen and bathroom items.
How JB Hi-Fi Works
Company Performance
For the financial year ending June 2022, JB Hi-Fi Limited had sales of A$9.23 billion. Their profit after tax was A$544.9 million. This shows the company is doing very well.
Number of Stores
As of June 30, 2022, the company had 199 JB Hi-Fi stores in Australia. They also had 14 JB Hi-Fi stores in New Zealand. In addition, they operated 106 The Good Guys stores in Australia.
What Makes JB Hi-Fi Special
JB Hi-Fi is known for its unique look inside stores. Employees often draw signs by hand. They also write product reviews. Some of these signs and reviews have become very popular online. People think these handmade signs make the store seem friendly. It also gives the idea that the company saves money on printing. This might help them keep prices low.
The stores themselves are often described as "bare bones." This means they are simple and don't have fancy decorations. This style helps create a relaxed feeling for shoppers.
Images for kids
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A JB Hi-Fi store at Stockland Rockhampton Shopping Centre, in Rockhampton, Queensland, in 2012
