JB Hi-Fi plans to establish a new computer sub-product category of tablet PCs following the successful launch of the Apple iPad.
The plans were announced in JB's full year investor presentation where it also revealed a record profit of $118.7 million, up 26 percent from the previous corresponding period. Sales increased by 17 percent to $2.731 billion for the year ending 30 June 2010.
Computers, telecommunications, accessories and visuals, combined with the maturing of recently opened stores, contributed to growth, the company said.
While it expects all categories to remain competitive, JB Hi-Fi said a "new sub-category of tablet PCs driven by the launch of the Apple iPad would drive further growth. It also flagged the iPhone 4, which "had strong sales in its first week", and competitive smartphone plans by telco partner Telstra as areas of interest.
JB Hi-Fi was appointed Dell's exclusive retailer earlier this year and it opened 23 shops over 12 months - the highest number it has opened in any one year.
"We are pleased with this solid result, especially given we were cycling against strong prior year growth driven by the government stimulus packages and low interest rates," CEO Terry Smart said.
The group currently has 131 Australian shops and 10 in New Zealand of which 130 are JB Hi-Fi branded stores.
The company expects to open about 18 new stores in this financial year where it expects to grow by another 17 percent.
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