Tim Edwards (JB Hi-Fi)
JB Hi-Fi is pursuing what it describes as a "significant opportunity to grow and expand" its New Zealand business under a new local leader.
The ASX-listed group has appointed former Noel Leeming CEO Tim Edwards as managing director to lead a repositioning of the New Zealand business.
Edwards brought "deep local experience" and long-standing relationships, combined with a passion for retail after working at The Warehouse Group for more than a decade.
Over the next three years, the group will invest in improving the JB Hi-Fi New Zealand customer offer, refresh the store network, open new stores, upgrade its online platform to Shopify and focus and grow its commercial and insurance channels, the company said yesterday.
"Having the opportunity to reflect over the last nine months has been an amazing experience and really helped me be clear on the next opportunity I wanted," Edwards wrote on LinkedIn.
"JB Hi-Fi NZ is just that - a great brand with amazing people, and I can't wait to help the team realise that potential."
The chain was deeply committed to New Zealand, Edwards wrote, and would work closely with its supply partners and be even more focused on customers.
JB Hi-Fi CEO Terry Smart said he was delighted to welcome Edwards to the group.
"He is a proven retail executive with an outstanding track record, particularly in the New Zealand consumer electronics and technology market," Smart said.
"We look forward to growing our New Zealand business under his leadership.”
As reported last month, sales growth at JB Hi-Fi New Zealand significantly lagged behind Australia.
The company's 14 store New Zealand chain recorded 0.3 per cent sales growth for the year to the end of June compared with 4 per cent for the Australian stores.
Kiwi store sales lifted to A$262.4 million for the full 2022 year from A$261.6 million in 2021.
