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Australia's JB Hi-Fi says Q1 sales behind target
Wed, Oct 13, 2010
Reuters

SYDNEY - JB Hi-Fi Ltd , an Australian electronics and home entertainment retailer, said first-quarter sales rose 12.2 percent from a year earlier but were about 5 percent behind its target.

The firm said on Wednesday it expected to make up the sales shortfall in the second half of the year as the overall strength of the economy underpinned the Christmas trading period.

In August, the company predicted fiscal 2011 sales would rise by 17 percent to around A$3.2 billion.

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