9 Feb 2010

Improvement reported by retailer

6:53 am on 9 February 2010

JB Hi-Fi says its New Zealand sales are showing signs of improvement and it expects to open more stores here this year.

The Australian-based chain made a $A76 million net profit for the six months to December, up from $A56 million in the same period the previous year.

Same store sales in New Zealand were up almost 6%.

The company says its nine stores in New Zealand are showing signs of improved trading and closure of the four remaining Hill & Stewart stores will allow it to grow the business further.

It expects to open at least another three or four stores in 2010.