JB Hi-Fi Profit Feeds on Dick Smith Corpse

 In Australia, NewZealand
The demise of electronics retailer Dick Smith has supercharged the profits of its major competitor, JB Hi-Fi, which outdid all expectations to record an impressive 11.5 per cent improvement in net earnings on an 8.3 per cent jump in sales.
Investors were stunned and sufficiently impressed – and immediately pushed the share price up more than 7 per cent.
And the positive fallout from Dick Smith is set to continue in the first half of the new financial year as JB Hi-Fi grabs a bigger wedge of market share in computers, visual, audio and accessories. Sydney Morning Herald – Read more…

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