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Terry Smart returns as JB Hi-Fi CEO following Murray exit Both Smart and Group CFO Nick Wells will also join the board as executive directors. L-R: Nick Wells; Terry Smart and Richard Murray (JB Hi-Fi) Credit: JB Hi-Fi After more than 18 years, JB Hi-Fi CEO Richard Murray has decided to leave the publicly listed retailer at the end of August to pursue a new role, with former chief Terry Smart stepping back into the fold. Smart was the retailer’s CEO for four years from May 2010 to June 2014 after serving for ten years as COO. He returned to the Group in 2017 as managing director of The Good Guys, which JB Hi-Fi acquired for $870 million in late 2016. ....
JB Hi-Fi has announced that chief executive Richard Murray will leave the company in August to take on a new role, and has appointed Terry Smart as his replacement. Terry Smart was promoted from managing director of The Good Guys, a role he held since 2017. Smart was also JB Hi-Fi CEO from 2010 to 2014. In its own ASX announcement, retail clothing company Premier Investments revealed it hired Murray as its chief executive, starting on 4 October 2021. “The decision to leave was a very difficult one to make. After 18 years with the company it is time for me to take on a new challenge,” Murray said. ....
JB Hi-Fi has reported a strong FY2021 first half in what the company called an “extraordinary period”, with its managed services business also benefiting. The retail giant didn’t go into specifics on JB Hi-Fi Solutions, its IT and telco services division, but said the business recorded “solid” sales growth during the period as it expanded its product and service offerings during the period. JB Hi-Fi also said it will continue expanding and extending the service offerings on an ongoing basis. For the overall business, JB Hi-Fi enjoyed sizable growth in the six months ended 31 December 2021 on the back of strong demand for consumer electronics and home appliance products. ....
JB Hi-Fi has touted a major profit boost for the first half of the 2021 financial year, with the electronic retailing giant flagging Black Friday and a spur in online sales has driven the earnings boost. In a shareholder update on Monday, JB Hi-Fi announced an 86.2 per cent jump in unaudited first-half group profit to $317.7m. Despite sales over the period rising only 23 per cent, the company noted cost-cutting measures over the six months had assisted in the lift in the group s profit result. At 10.30am, listed stock in JB Hi-Fi was trading 5 per cent higher following the update to $53.33 per share. ....
Retail giant JB Hi-Fi saw its sales figures come close to $5 billion in the first half of the financial year as demand for consumer electronics goods and online sales skyrocketed in the past six months The group, which includes JB Hi-Fi and other retail brands such as The Good Guys, has released its preliminary figures for the first half of the financial year which showed the company achieving sales of $ 4.94 billion and a net profit after tax of $317.7 million. The company did not release any figures relating to its Solutions business which targets B2B sales and services. In February 2020, the company said it remained on track to hit a long-defined target of $500 million in annual sales. ....