Evolution not revolution is something that European companies are very good at and this shows through with the new Medion Akoya MD8870 all in one touch screen PC.
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Evolution not revolution is something that European companies are very good at and this shows through with the new Medion Akoya MD8870 all in one touch screen PC.
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Consumer electronics retailer JB Hi Fi has defied the market by reporting a bumper 40% increase in profits and a sales increase of 28%. The Company also believes that the CE industry at large will benefit from further Federal Government stimulus packages.
As a Reserve Bank board member called for a change in the way that the stimulus package is distributed in an effort to prevent consumers spending on what they described yesterday to a Senate hearing as “Plasma & Pokies”, JB HI Fi has said that sales in January and February are as forecast.
One JB Hi Fi Manager said “We are definitely benefiting from the money that was handed out in December. This has certainly helped our sales.”
During the past six months as Harvey Norman was closing stores JB Hi Fi has opened 14 stores during and will open a further seven stores in the second half. They are also looking at new locations following the collapse of several retailers, said Richard Uechtritz during a recent interview with ChannelNews.
Uechtritz said, “Whilst the retail outlook is less certain than previous reporting dates, the company is cautiously optimistic that it will have another strong year and confirms its previous guidance that sales will be circa $2.35 billion or a 28 per cent increase on the prior financial year.”
Store growth rose 11.1 per cent across its regions and management said margins remained stable at 21.4 per cent despite discounting at its competitors.
The tough economic environment for the retail sector will present expansion opportunities, the company said.
“The weak retail climate should throw up expansion opportunities,” Mr Uechtritz said during a teleconference.
“Sites from companies like Crazy Clark’s and Go-Lo are possibilities and some pass down sales that would have otherwise gone to the Strathfield business upon closure of those stores.”
The company renewed its debt facilities in December for another three years and said it had an ability to take advantage of any attractive growth opportunities that may arise in the current weak economic climate.
JB Hi Fi is set to rock with the Company forecasting sales growth of 28% running into the last quarter of 2008. This is despite what JB Hi-Fi chief executive Richard Uechtritz calls a “challenging environment”.
JB Hi Fi is set to rock with the Company forecasting sales growth of 28% running into the last quarter of 2008. This is despite what JB Hi-Fi chief executive Richard Uechtritz calls a “challenging environment”.
In a word of warning he told shareholders at today’s Annual General Meeting that he expects the current economic crisis will lead to further industry rationalisation.
The Company is forecasting that sales will rise to $2.35 billion from fiscal 2008. Company Chairman Patrick Elliot said every company in the consumer electronics sector was under scrutiny.
“Despite the current economic and retail environment and with the all important Christmas trading period ahead of us, the company remains confident that it will meet market expectations,” Mr Uechtritz said. He added “As previously advised to the market, trading in the first quarter has been solid and we maintain our previous sales guidance for fiscal 2009 of circa $2.35 billion or a 28 per cent increase on fiscal 2008.”
“Low levels of unemployment, falling interest rates and the possible switch from other big ticket purchases may continue to support a reasonable level of consumer spending in our major categories,” he added.
“We expect however that these more challenging times in retail will prove a catalyst for further industry rationalisation, increased market share for the company and further enhancement of our competitive advantage.”
The Australian said that both sales and earnings at JB Hi Fi are well up on the previous year, but the company has yet to finalise its September results.
All 6 stores opened so far this financial year are trading well, it added.
After opening 20 new stores during 2007/08, the company will open another 14 new stores for the six months to Christmas 2009, taking its total store franchise network to 119 stores.
Downlod the JB Hi Fi report here.
David Thodey the former boss of IBM and of late Telstra Wholesale is set get the top job at Telstra to replace Sol Trujillo who is due to depart on June 30. . The decision was made at a Telstra board meeting yesterday.
David Thodey the former boss of IBM and of late Telstra Wholesale is set get the top job at Telstra to replace Sol Trujillo who is due to depart on June 30. . The decision was made at a Telstra board meeting yesterday.
Thodey who lives in NSW appears to have topped a short list of four, including one unnamed British executive – and close rival John Stanhope, Telstra CFO and a 40-year veteran at Telstra.
It’s the second time Stanhope has been turned down for the top job: he was pipped by Trujillo in 2005 after the board showed Ziggy Switkowski the door. As late as Wednesday, some news sources were still tipping Stanhope to emerge as the board’s choice.
Others who missed out this time included Sensis (Yellow Pages) CEO Bruce Akhurst and consumer marketing group MD David Moffatt.
At 54, Thodey is four years younger than Stanhope. He has been MD of Telstra’s enterprise and government division, as well as heading up the Kaz services business, and is widely seen as seen favouring a more stable relationship with the government than Telstra pursued under the prickly Trujillo.
His major task – apart from attempting to repair the Telstra share price, which has slid 36 percent under Trujillo – will be to steer a voluntary separation deal ahead of the NBN rollout: something that Trujillo plainly could never have embraced. That course could also see the departure of Telstra chairman Donald McGauchie, who has been closely aligned with the Trujillo view.
Thodey joined the telco from IBM in 2001 as group MD of Telstra Mobile, and has also served as chairman of TelstraClear, the NZ subsidiary. In his enterprise and government role he has been drawing an annual paycheque of around $3.9 million – if the board reward him as they did Trujillo he can expect something more like $13-14 million.
COMMENT: Today several smart arse political journalists including Kerry O’Brien on the ABC’s 7.30 Report are trying to make out that Tony Abbott is a technology nerd, despite the fact that O’Brien and a lot of other mass media journalists don’t have a clue about technology other than it’s something to do with an iPhone, iPod and searching the web.
Days after quitting JB Hi-Fi former chief executive Richard Uechtritz has been appointed a director of Seven Group Holdings.
COMMENT: The decision by the Federal Government to cut Telstra from the proposed National Broadband Network bid is bold in the extreme and could well leave Communications Minister Senator Conroy with egg on his face just in time for the next election.
The head of the NBN Mike Quigley and CFO Jean-Pascal Beaufret have said via their in-house lawyers that no allegations of corruption or bribery were ever made against them.
We recently published two articles following allegations made by Opposition Spokesperson Malcolm Turnbull about NBN Co executives Mike Quigley and Jean-Pascal Beaufret and a corruption investigation into Alcatel-Lucent whilst they were senior executives of the French Company. Those articles implied that Mr Quigley and Mr Beaufret were responsible for the corrupt practices of Alcatel-Lucent and should have disclosed the investigation of the company to the government when considered for their roles at NBN Co.
Smarthouse acknowledges that those statements were unfair to Mr Quigley and Mr Beaufret.
Smarthouse accepts that no allegations of corruption or bribery were ever made against Mr Quigley and Mr Beaufret and they were not involved in any way in the incidents. We also acknowledge that Mr Quigley and Mr Beaufret were never questioned by investigating authorities. As such, there was no proper basis for suggesting the investigation into Alcatel-Lucent should have been disclosed by Mr Quigley or Mr Beaufret.
Smarthouse unreservedly apologises to Mr Quigley and Mr Beaufret for the harm caused to them by the articles.
Dick Smith has been forced to close eight stores in Christchurch New Zealand after a 6.5 earthquake just before 1pm NZ time today. This was followed by constant aftershocks, some as powerful as magnitude 5.
Also affected by the earthquake is Harvey Norman who has one store in Queensland. Telstra who operate their struggling TelstraClear said that their network which uses a Telstra owned cable network was still up but like the recent Queensland Cyclone their network has been affected by a lack of power to key locations where operational gear is located.
Telecom New Zealand said that their Christchurch network was operable but there was significant network congestion and a lot of its network is running on battery power which has limited life.
Both Telecom NZ and TelstraClear advised fixed-line customers to use a plug-in analogue phone if they had one.
“These are currently running on back-up power. This means our voice services are still operating, except where there is damage to phone lines, individual premises or power is lost to premises,” spokesman David Courtney said.
About half of its 50,000 cable modem customers were without access to the internet.
At 3.00pm Australian Eastern Time, Vodafone said that their network was still running but 10 of its 150 towers in the region had been knocked out and another 43 were operating on battery back-up which will run out by midnight tonight.
A spokesperson for Dick Smith said that all of their Christchurch stores were now closed and that there had been no loss of life among employees.
All of the networks operating in Christchurch say that data networks which in a lot of cases are still operational will run out of power as battery back up fails.
Are you looking to be more productive? How about three PC screens instead of one. New research shows that when three screens are linked together productivity increases by up to 35% over someone using a 19″ LCD flat screen monitor.
Are you looking to be more productive? How about three PC screens instead of one. New research shows that when three screens are linked together productivity increases by up to 35% over someone using a 19″ LCD flat screen monitor.
According to Fujitsu and the Fraunhofer IAO laboratory one group of testers who had a 22-inch widescreen monitor, increased their productivity over the single 19-inch group by 8.4-percent.
According to the researchers says Slashgear.com employees can perform a typical knowledge-sector job much more efficiently at a three-display workplace than at a conventional one.
This is particularly relevant for jobs where digital information has to be frequently processed as is the case with scientists, editors, engineers or insurance company employees. Overall, the study showed that larger screen areas increase productivity – and with the 3-display workplace all interconnected to form one desktop, Fraunhofer IAO scientists recorded increased productivity of 35.5 percent.