JB Hifi Civic price hike

toriness 10 August 2007 27

Not sure that this post will make the cut. After all it is hardly, to most people, news or information that will affect their everyday lives like interest rates hikes, crime rates, bus strikes etc.

But as an almost daily visitor (weekdays anyway!) and frequent shopper (games and more obsessively, dvds) at JB Hifi in Civic, has anyone else noticed the DRAMATIC price increase which has occurred at this store over the past week? Maybe I notice because I’m in there so often, but I’m here to inform you it HAS happened! For example, last week I purchased Guitar Hero II for $60. It was not on special – this was it’s normal price which it had been marked at well for as long as I can remember. Yesterday I was checking out the PS2 games, as is my want, and it is now marked at $74.95! Other Nintendo DS and Wii games had similar price increases. With the Aussie dollar so strong, analysts have already told us that electronic good prices should be coming down, essentially price savings are already not being passed onto the consumer. But to increase prices by that much? Outrageous. Especially when the foundations of JB Hifit were laid upon claims of being super cheap, smashing prices etc etc.

Anyway rant over. Any comments? Is this not a slap in the face to JB Civic customers? What is causing it, a lack of competition? A takeover of JB civic store by a new owner (if JBs is franchised)?

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27 Responses to JB Hifi Civic price hike
pharaoh pharaoh 9:15 pm 16 Aug 07

A lot of JB’s stuff has been sold at cost or below for a long time now. competition from Big W, Target, EB, and the upcoming Game and DS Powerhouse is sure to put upwards pressure on their prices as sales will probably drop. I know for a fact that cost price for a new release album is about $19-20, so many stores actually sell them at a loss.

Ive always found Big Dub and Target are good at price matching JB Though.

The new part of the centre will have Aldi, DS Powerhouse and 20 homewares themed stores. That is direct from the Canberra centre retailer’s magazine released last week.

And apparently Bayswiss Woden is meant to be gone within a year, with JB moving inside.

Felix the Cat Felix the Cat 9:13 pm 14 Aug 07

JB Hi-Fi shares jump after 56% profit rise


Australian electrical retailer JB Hi-Fi said on Tuesday its net profit for the year surged 56 percent, boosted by strong demand for big-screen TVs, computer games and the company’s move into computers.

The news sent the company’s shares up more than 12.5 per cent at 2.16pm, gaining $1.26 to $11.38.

JB Hi-Fi said its year to June 30 profit rose to $40.4 million from $25.8 million a year ago, above the company’s recently upgraded guidance of 43-51 percent profit growth to $37-39 million.

Analysts expected net profit of $38.4 million, according to a Reuters Estimates survey of 13 brokers.

The company said sales in the new business year to date have continued the strong momentum of the end of the previous year. It saw sales in the year to June 2008 rising 33 percent.

The cost of doing business was lower at 16 per cent compared to 17.1 per cent in fiscal 2006.

JB Hi-Fi chief executive Richard Uechtritz said the lower cost of doing business had allowed the company to shift its product mix and improve its earnings margin.

“We are delighted with this strong result. Our unique and technology-focused retail model is performing strongly,” Mr Uechtritz said.

“We should continue to benefit from strong comparable store sales, many new store opportunities, a lower cost of doing business and better buying power this year.”

Asked if last week’s interest rate rise, and the possibility of another, could curb sales, Mr Uechtritz said interest rates were still “historically low”.

On Wednesday, the Reserve Bank of Australia (RBA) lifted rates by 0.25 percentage points to 6.50 per cent.

With the RBA yesterday increasing its inflation forecast to three per cent, some commentators are predicting another rise by the end of this year.

JB’s position at the “sexy end” of the retail market would shelter it from any fallout, Mr Uechtritz said.

“I guess with the economy growing strong and a lot of other factors out there, that we are not too concerned with an interest rate rise.”

Mr Uechtritz said the company’s recent move into the computer and telecommunications markets should ensure that the company has many more years of strong growth.

JB Hi-Fi said it expects to open about 16 new stores in Australia and four in New Zealand in fiscal 2008.

The group had 77 stores in Australia and 12 in New Zealand at the end of 2006/07.

Analysts have said the retailer has also benefited from an accelerated opening of new stores.

JB Hi-Fi shares have risen 57 percent this year, well above the broader market’s 5.3 percent increase. They closed 3.8 percent higher on Monday.

jr jr 9:42 pm 12 Aug 07

I heard that in Woden JB is moving where BaySwiss currently is in the Plaza… can anyone confirm that rumour?

LaLucha LaLucha 12:28 am 12 Aug 07

It’s probably so they can advertise 25% off everything in store when HN and DS open up.

el el 8:43 pm 11 Aug 07

Well, it seemed to last time I was in there about a fortnight ago.

hk0reduck hk0reduck 12:10 pm 11 Aug 07

Supposedly Woden JB still has its low low prices!:)

Sammy Sammy 9:06 am 11 Aug 07

I thought Strathfield were dead and buried?

skaboy12 skaboy12 11:52 pm 10 Aug 07

what else is opening up in that part?

There is a Strathfield store opening there in about 3 weeks. I know this because it is my new store 🙂

jr jr 10:36 pm 10 Aug 07

Price rises… probably a simple matter of economics. The rent rates of the Canberra Centre are starting to bite?

pierce pierce 10:04 pm 10 Aug 07

Thank you toriness for the indelible image of John and Janette indulging in wii games.

bd84 bd84 9:37 pm 10 Aug 07

Why not ask one of their staff? there always seems to be lots mulling around down the aisles.. though sometimes hard to tell due to them only being identified by a jb pass around their neck..

Can’t say i’ve noticed a difference though.. and it is correct that a powerhouse will open downstairs in the old city markets, they’ve been advertising for staff for ages.. must spell the end for the one in the interchange too, that building is just about empty now lol

ant ant 9:03 pm 10 Aug 07

Well, I think a few of us appreciate the warning. I tend to buy a lot of such stuff either online or in the US. It’s incredible the prices they charge in local shops. you tend to assume that shops who advertise themselves as “cheap”, are cheap. Marketing is very powerful.

barking toad barking toad 4:27 pm 10 Aug 07

and getting further off topic

gorebull warmening caused a tree to fall across Northbourne Avenue today – no polar bears were sighted though

toriness toriness 3:54 pm 10 Aug 07

anyway to bring it back to the original topic – if you work at JB Civic or know someone who does, please ask them WTF is going on!

else i will be forced to confront them myself and that would be embarrassing 🙂

toriness toriness 3:50 pm 10 Aug 07

you wouldn’t want to dare ask him what his favourite wii game was – he’d get the AFP to lock you up and detain you without charge for a fortnight…

pierce pierce 3:45 pm 10 Aug 07

Are we sure that JWH has heard of cds?

I have a sneaking suspicion there’s a working 78 player in the loungeroom of the Lodge and a bakelite wireless for the cricket.

Thumper Thumper 3:41 pm 10 Aug 07

Maybe it’s the price increase that is causing, or contributing to global warming?

Oh, and JWH neglecting to act upon things….

toriness toriness 2:39 pm 10 Aug 07

i’ll just blame john howard then for falling asleep on climate change

barking toad barking toad 2:26 pm 10 Aug 07

There’s a 90% probability that price increases are caused by global warming

toriness toriness 2:00 pm 10 Aug 07

i heard a rumour – well a hairdresser in civic told me – that harvy norman was opening where city markets used to be…

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