Australian home entertainment retailer JB Hi-Fi’s 10 percent profit increase has been welcomed by shareholders, adding more than AUD90 million (USD79.3m) to its market value.
But the electronics and DVD seller’s good news is not necessarily a sign that all is well in Australia’s retail space, an analyst says.
JB Hi-Fi’s share price climbed by more than five percent on Tuesday after announcing that net profit had climbed by 10 percent in the six months to 31 December.
(Source: The Sydney Morning Herald Online )