JB Hi-Fi Limited is an Australian

consumer electronics Consumer electronics or home electronics are Electronics, electronic (Analogue electronics, analog or digital electronics, digital) equipment intended for everyday use, typically in private homes. Consumer electronics include devices used for ...

and

home appliances A home appliance, also referred to as a domestic appliance, an electric appliance or a household appliance, is a machine which assists in household functions such as cooking, cleaning and food preservation. Appliances are divided into three t ...

retail company. It is publicly listed on the

Australian Securities Exchange Australian Securities Exchange Ltd or ASX, is an Australian public company that operates Australia's primary securities exchange, the Australian Securities Exchange (sometimes referred to outside of Australia as, or confused within Australia a ...

. Its headquarters are located in Southbank,

Melbourne Melbourne ( ; Boonwurrung/ Woiwurrung: ''Narrm'' or ''Naarm'') is the capital and most populous city of the Australian state of Victoria, and the second-most populous city in both Australia and Oceania. Its name generally refers to a me ...

, Victoria. The company has 316 stores across both countries, including 197 JB Hi-Fi and JB Hi-Fi Home stores in Australia, 105 Good Guys stores in Australia and 14 JB Hi-Fi stores in New Zealand.

History

A JB Hi-Fi store in Stockland Rockhampton Shopping centre, Rockhampton, Queensland

1974–1999

JB Hi-Fi was established in the Melbourne suburb of Keilor East by John Barbuto (JB) in 1974. Barbuto sold the business in 1983 to Richard Bouris, David Rodd and Peter Caserta, who expanded JB Hi-Fi into a chain of ten stores in Melbourne and Sydney turning over $150 million by 2000, when they sold the majority of their holding to

private equity In the field of finance, the term private equity (PE) refers to investment funds, usually limited partnerships (LP), which buy and restructure financially weak companies that produce goods and provide services. A private-equity fund is both a typ ...

. It was subsequently floated on the ASX in October 2003.

2000–2009

In July 2004, JB Hi-Fi bought 70% of the Clive Anthonys chain in

Queensland ) , nickname = Sunshine State , image_map = Queensland in Australia.svg , map_caption = Location of Queensland in Australia , subdivision_type = Country , subdivision_name = Australia , established_title = Before federation , established_ ...

. On 13 December 2006, JB Hi-Fi acquired the Hill and Stewart chain of 11 electronics stores selling and operating in New Zealand for NZ$17.5 million (A$15.3 million). JB Hi-Fi later established stores under their own JB Hi-Fi brand in 2007, and closed all Hill and Stewart stores in 2010.

2010–2019

In 2010, there were 10 JB Hi-Fi in New Zealand. In 2011, there were 13. On 22 September 2015, a man with

Down Syndrome Down syndrome or Down's syndrome, also known as trisomy 21, is a genetic disorder caused by the presence of all or part of a third copy of chromosome 21. It is usually associated with child development, physical growth delays, mild to moderate ...

was refused entry into a JB Hi-Fi store in

Brisbane Brisbane ( ) is the capital and most populous city of the states and territories of Australia, Australian state of Queensland, and the list of cities in Australia by population, third-most populous city in Australia and Oceania, with a populati ...

, Australia, after being confused for another person who had been banned from the store. The resulting media attention resulted in CEO Richard Murray publicly apologising to the family. On 13 September 2016, JB Hi-Fi announced its acquisition of The Good Guys, for $870 million, the acquisition resulted in JB Hi-Fi group enlarging its share of the Australian home appliances retail market to 29% and growing its share of the consumer electronics retail market to 24%. In August 2018, JB Hi-Fi was ranked as the equal 7th largest consumer electronics and home appliance retailer in the world.

2020–present

On 28 April 2021, it was announced that Richard Murray, JB Hi-Fi's CEO of seven years, would be leaving his role at the end of August to work alongside trader Solomon Lew at the latter's company Premier Investments. Terry Smart, the head of The Good Guys, was announced as Murray's replacement on the same day.

References

External links

* * * {{DEFAULTSORT:Jb Hi-Fi Consumer electronics retailers of Australia Consumer electronics retailers of New Zealand Video game retailers in Australia Video game retailers in New Zealand Music retailers of Australia Music retailers of New Zealand 1974 establishments in Australia Australian companies established in 1974 Companies based in Melbourne Companies listed on the Australian Securities Exchange Retail companies established in 1974