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Woolworths Set To Bid For JB Hi Fi
Woolworths is close to making an offer to buy consumer technology retailer JB Hi Fi. Executives at Investment Bank JP Morgan have also been consulted on a possible new bid and are now working on a tangible offer say Company insiders.
 
 
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  JB Hi-Fi Strengthens IT Offering In New Stores

By Sarah Falson | Tuesday | 05/02/2008

JB Hi-Fi will open a store in the basement of the famous Strand Arcade in Sydney at the end of the month, signposting the technology retailer’s second store opening in the Sydney CBD and strengthening the company’s presence in the business district.

The store will be located in the former Downtown Duty Free site, and will officially open on 28 February.

The store's wares will focus on DVDs, CDs, games, computers, IT equipment, cameras and navigation, and will incorporate two special areas designated to Apple and Telstra stock.

JB Hi-Fi says the new store location is a lucky win for the retailer, and will take some of the pressure of the existing store underneath the Queen Victoria Building.

"We are excited to have secured such a prominent location, our existing store in the CBD has been overtrading for quite some time and with Brazin closing the HMV Pit St Mall store we saw an opportunity to increase our market share as well as introduce to the city a substantial technology offering," said JB Hi-FO CEO, Richard Uechtritz.

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