JB Hi-Fi Q1 FY27 sales update: New Zealand surges 17.3% while Australia softens
In its Q1 FY27 sales update, JB Hi-Fi reported total sales growth of -0.4% for JB HI-FI Australia (comparable -1.4%), against 17.3% for JB HI-FI New Zealand (comparable 10.7%). The update covers the period 1 July 2026 to 30 September 2026 and was released on 29 October 2026.
New Zealand was the standout. The Good Guys and e&s both recorded slightly negative total sales growth over the quarter.
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Division by division sales performance
The table below sets out total and comparable sales growth for each of the Group’s four divisions in Q1 FY27.
| Division | Total sales growth | Comparable sales growth | Takeaway |
|---|---|---|---|
| JB HI-FI Australia | -0.4% | -1.4% | Slightly negative on both measures |
| JB HI-FI New Zealand | 17.3% | 10.7% | Strongest growth in the Group |
| The Good Guys | -0.1% | -0.4% | Close to flat on both measures |
| e&s | -3.7% | -4.5% | Softest result in the Group |
A few observations stand out from the figures:
- New Zealand comparable growth of 10.7% shows growth beyond the effect of new stores.
- The Good Guys was close to flat on both measures.
- e&s was the softest division on both total and comparable sales growth.
For investors, the figures show where the Group’s growth came from during the quarter, and where it did not.
New Zealand’s momentum builds on the FY26 full year results, where the division’s comparable sales rose 15.3% and EBIT turned positive, with two new stores planned for FY27 as the network targets 28 locations.
What the Group says about trading conditions
The Group described the following conditions in its update:
- Continued variability in trading.
- Heightened competitive activity.
- Customers remaining focused on value and increasingly shopping during promotional events.
In October, the Group has seen sales slow ahead of the important Black Friday and Christmas trading periods.
The Group stated it will continue to focus on driving demand and growing market share through creating great value offers for its customers and delivering exceptional customer service.
Because Black Friday and Christmas are described as important trading periods, investors are likely to watch coming trading performance closely.
How retail sales updates work
Retail sales updates typically report two growth measures. Total sales growth captures all sales, including those from stores that opened or closed during the period.
Comparable sales growth strips out the effect of new or closed stores, giving a cleaner read on underlying demand. In New Zealand, total growth of 17.3% sits above comparable growth of 10.7%, which shows the two measures can differ meaningfully.
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