JB Hi-Fi
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| JB Hi-Fi Limited | |
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| Type | Public (ASX: JBH) |
|---|---|
| Founded | Melbourne, Victoria, Australia 1975 |
| Headquarters | Melbourne, Victoria Australia |
| Industry | Retail |
| Products | CDs, DVDs, video games and consumer electronics |
| Revenue | $946 million AUD (2006) |
| Slogan | JB, you've done it again! |
| Website | www.jbhifi.com.au |
JB Hi-Fi (ASX: JBH) is an Australian CD, DVD, video game and consumer electronics chain store.
It was established in 1975 in the Melbourne suburb of Keilor East by John Barbuto. Barbuto sold the business in 1983. It had a total of ten stores by 2000 when it was bought by private equity. It was subsequently floated on the Australian Stock Exchange in October 2003. [1]
At first, it mainly specialised in Hi-Fi equipment. As the mainstream popularity of vinyl records declined, in 1991 JB Hi-Fi cleared out their entire stock of records and began offering exclusively CDs. They were one of the first Australian music retailers to do so. This allowed JB Hi-Fi to open many new stores in Melbourne and later expand to other states. The chain now has stores all around Australia.
Recently, while many music stores claim to have been losing money, due to online piracy, JB Hi-Fi has increased profits by 50% in the years 2004-5 & 2005-6, this being attributed to more of a reliance on electronics and DVD sales.[citation needed] JB also specialises in imports of CDs, mainly from the United Kingdom and the United States, although many other imports such as Japanese imports are available on request. The success of JB Hi-Fi's business model can be seen in the extremely rapid growth of the company after it was floated, with the chain opening dozens of new stores around the country.[citation needed]
JB Hi-Fi, in addition to music CDs, are a major retailer for Audio/Visual, digital photography, portable audio, in-car entertainment, computer/video games, DVD movies and information technology.
[edit] Acquisitions
In July 2004, JB Hi-Fi bought 70% of the Clive Anthony chain in Queensland.[1]
On 13 December 2006, JB Hi-Fi acquired the Hill and Stewart chain of department stores operating in New Zealand for $NZ17.5 million ($A15.3 million). JB Hi-Fi chief executive Richard Uechtritz said he wanted to be a major player in the New Zealand market.[citation needed]
[edit] References
[edit] External links
Categories: Articles which may be biased | Articles lacking sources from February 2007 | All articles lacking sources | Companies listed on the Australian Stock Exchange | Articles with unsourced statements since February 2007 | All articles with unsourced statements | Articles lacking sources from December 2006 | Companies established in 1975 | Retail companies of Australia
