Richard Uechtritz, CEO of consumer electronics chain JB Hi-Fi, has said he expects the group to see sales grow more from its physical outlets than from online sales. He also said he expects more growth to come from planned stores openings rather than through acquisitions.

Uechtritz said that although the chain has an online offer, sales from the Internet accounted for less than 1% of total sales, and he added that he did not expect that to grow significantly anytime soon. Uechtritz said Australia's relative lack of catalogue sales before the internet arrived meant there were cultural barriers to online shopping.

However, he added, “We are in a great position to expand the company”, but this growth will come from new store openings. He also said the chain is not in talks for any acquisitions, including rival Clive Peeters, which has put itself on sale.

The group has recently re-iterated its full-year forecast for sales growth of 28%, and said it was comfortable with average analyst profit forecasts of $87.1m.

NamNews - Tuesday 12th May 2009

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