JB Hi-Fi upbeat

JB Hi-Fi, an Australian electronics and home-entertainment retailer with stores in Auckland, reaffirmed yesterday that it expected 20 per cent sales growth this year and was confident of meeting market expectations.

"While the economic outlook remains unclear, we are encouraged by recent signs the Australian economy and consumers are feeling more confident than this time last year," chief executive Richard Uechtritz said in remarks prepared for the annual shareholders meeting.

JB Hi-Fi expects sales to jump to A$2.8 billion ($3.45 billion). The company plans to open 22 new stores this year.

- NZPA