Discount electronic and whitegoods retailer The Good Guys will pay almost $14 million, under an agreement with the competition watchdog to resolve federal court proceedings.
JB Hi-Fi says it made $544.9 million in net profit after tax in the 12 months to June 30, 7.7 per cent more than last year, as consumer demand stayed strong for electronics and home appliances.
JB Hi-Fi has bumped up its full-year profit guidance following a surge in sales since March as customers forced to work from home boosted demand for home appliances and technology products.
Retail spending in Western Australia increased by 9.9 per cent in March as consumers stockpiled food, home and office supplies, resulting in some retailers, including JB Hi-Fi, posting a strong quarter.
JB Hi-Fi's Christmas has proven music to investors' ears, with strong summer sales and online growth helping the electronics retailer shake sector-wide softness and post a record first-half profit.
