Menu
New JB Hi-Fi chief sticks to expansion plans

New JB Hi-Fi chief sticks to expansion plans

Terry Smart's priorities include steadily growing the company and taking advantage of an improving economy

JB Hi-Fi’s (ASX:JBH) new CEO, Terry Smart, is committed to incremental growth and capitalising on an improving economy as his initial priorities.

Smart, formerly the retailer’s executive director and COO, has taken over the CEO role from retiring managing director and CEO Richard Uechtritz.

The transition in management is effective towards the end of May.

In his new role, Smart will initially oversee the expansion of the number of shops within the country and New Zealand.

The retailer announced it would successfully open 22 new stores in its FY10 – raising the Australia and New Zealand total to 140.

Smart reaffirmed the retailer’s commitment to opening 210 stores.

He was optimistic about his company’s position in the market, and foresaw an improvement to the retail market over the next 12 months, with low unemployment helping to generate consumer spend.

“It is tough at the moment, but we’d like to think that as people re-base themselves and interest rates settle down, the economy will improve,” Smart said.

JB Hi-Fi was one of the few retailers to perform remarkably well throughout the financial crisis.

In its recent results it observed a trend towards the larger players, such as itself, Harvey Norman and The Good Guys, continuing to grow at the expense of the smaller outlets.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags jb hi-fiHarvey NormanThe Good GuysTerry Smart

Events

Featured

Slideshows

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

This year’s Reseller News 30 Under 30 Tech Awards were held as an integral part of the first entirely virtual Emerging Leaders​ forum, an annual event dedicated to identifying, educating and showcasing the New Zealand technology market’s rising stars. The 30 Under 30 Tech Awards 2020 recognised the outstanding achievements and business excellence of 30 talented individuals​, across both young leaders and those just starting out. In this slideshow, Reseller News honours this year's winners and captures their thoughts about how their ideas of leadership have changed over time.​

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners
Reseller News Exchange Auckland: Beyond the myths — how partners can master cloud security

Reseller News Exchange Auckland: Beyond the myths — how partners can master cloud security

This exclusive Reseller News Exchange event in Auckland explored the challenges facing the partner community on the cloud security frontier, as well as market trends, customer priorities and how the channel can capitalise on the opportunities available. In association with Arrow, Bitdefender, Exclusive Networks, Fortinet and Palo Alto Networks. Photos by Gino Demeer.

Reseller News Exchange Auckland: Beyond the myths — how partners can master cloud security
Reseller News welcomes industry figures at 2020 Hall of Fame lunch

Reseller News welcomes industry figures at 2020 Hall of Fame lunch

Reseller News welcomed 2019 inductees - Leanne Buer, Ross Jenkins and Terry Dunn - to the fourth running of the Reseller News Hall of Fame lunch, held at the French Cafe in Auckland. The inductees discussed the changing face of the IT channel ecosystem in New Zealand and what it means to be a Reseller News Hall of Fame inductee. Photos by Gino Demeer.

Reseller News welcomes industry figures at 2020 Hall of Fame lunch
Show Comments