JB Hi-Fi (ASX:JBH) Posts Record Sales and a Bigger Payout as July Trading Softens

Aditi Sarkar

23 October 2026 09:40 PM AEDT

JB Hi-Fi (ASX:JBH) Posts Record Sales and a Bigger Payout as July Trading Softens

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Highlights

• JB Hi-Fi lifted FY26 sales 4.8 per cent to a record $11,064.0 million, with EBIT reaching $734.4 million.

• The retailer declared a 127 cent final dividend, taking the full-year ordinary payout to 337 cents per share, fully franked.

• JB Hi-Fi New Zealand grew sales 26.0 per cent to NZ$499.5 million and swung to an EBIT profit.

• JB Hi-Fi plans four new Australian stores and two in New Zealand during FY27, alongside several relocations.

Record annual sales of $11.06 billion and a Dividend lifted by 22.5 per cent framed the FY26 result at JB Hi-Fi Limited (ASX:JBH), even as management warned that the new financial year had started with softer trading. Shares were trading at A$73.24 on 23 October 2026, up 2.19%.

Sales Climb While Earnings Grow More Slowly

Group sales rose 4.8 per cent to $11,064.0 million, a record for the business. EBIT increased 5.8 per cent to $734.4 million, or 3.8 per cent against an FY25 base that excludes a one-off $13.7 million expense from the resolution of ACCC proceedings against The Good Guys.

Net profit attributable to shareholders reached $489.9 million, up 6.0 per cent, or 2.9 per cent on the underlying comparison. Earnings Per Share came in at 448.1 cents. The group ended June with net cash of $206.5 million, down from $284.1 million a year earlier.

A Higher Payout Policy Reaches Shareholders

The board declared a fully franked final dividend of 127 cents per share, up 21.0 per cent. Added to the 210 cent interim paid in March, the full-year ordinary dividend totals 337 cents, equal to 75 per cent of net profit. The company also raised its payout policy to a range of 70 to 80 per cent of net profit from FY26. The final dividend was paid on 11 September.

Four Divisions, Four Different Stories

JB Hi-Fi Australia delivered sales of $7,416.4 million, up 4.4 per cent. EBIT rose 3.2 per cent to $547.3 million at a 7.38 per cent margin, and online made up 17.2 per cent of sales. Management said growth in the final quarter was held back by supplier price rises and technology stock shortages.

The Good Guys lifted sales 2.7 per cent to $2,943.8 million and EBIT 6.0 per cent to $184.0 million, a 6.25 per cent margin.

New Zealand was the standout. Sales grew 26.0 per cent to NZ$499.5 million, with comparable sales up 15.3 per cent, and EBIT swung to NZ$4.1 million from a loss of NZ$0.2 million.

The e&s Business recorded sales of $273.1 million and an EBIT loss of $0.4 million as it invests in strategic initiatives.

July Slows, Stores Expand: The Year-Ahead Plan

Trading since 1 July 2026 has been mixed. Total sales at JB Hi-Fi Australia fell 0.5 per cent, with comparable sales down 1.4 per cent. The Good Guys recorded a 1.7 per cent decline, e&s fell 2.7 per cent, and New Zealand rose 20.9 per cent. Management described an uncertain short-term retail environment in which customers seek value and concentrate spending around key promotions. It gave no specific FY27 earnings guidance.

The stated FY27 priority is "Customer First", built on five focus areas including store growth and multichannel growth. The group ended FY26 with 355 stores. Plans for FY27 include four new JB Hi-Fi Australia stores and one relocation, two new New Zealand stores and one relocation, and one new Good Guys store with five relocations and two extensions.

On the board, Terry Smart joined as a non-executive director from 5 October 2026, while Richard Uechtritz will retire at the Annual General Meeting on 29 October 2026.

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