EXCLUSIVE: Consumer Electronics Is Getting Betta

Written by Oonagh Reidy     04/03/2013 | 01:52 | Category: INDUSTRY

Electronics retailer bounces back as Betta boss confirms business is up

In fact maybe even Betta than some rivals.

The electronics retailer's like-for-like sales are up since October, since taking on many ex Retravision stores last year.

"Like for like stores, is tracking slightly ahead of last year since October which overall is a good result," Betta CEO Graeme Cunningham told CN.

Part of the BSR Group, the retailer, now known as Betta Home Living, has expanded in recent months and now has over 200 franchise stores - up from 170.

In September, the BSR Group announced a 60% hike in income for the BSR group for the year ending 31 March 2012, attributed to an alliance with the NARTA buying group - its highest increase since '06.

Even JB Hi-Fi couldn't manage a rise in like for like sales which fell 3.5% for the six months to 31 December 2012 (HY13), blamed on dropping TV categories in its newer stores.

However, the retailer managed to buck the trend in January 2013, with total sales up 12% and 4.2% on a like for like basis.

The retailer is also predicting a more stable gross margin environment in FY13.

Harvey Norman didn't manage growth in either total or comparable sales locally, its latest financials show in HY 2012.

Aussie sales for the six months fell 8.6% (like-for-like - 6.3%) for the six months to 31 December last.

But like JB, Harvey's did confirm: "the aggressive discounting experienced in the second half of 2012 has stabilized and pleasingly we are seeing an uptick in sales."

However, Gerry Harvey did predict there's probably more retailers will go bust this year. But it looks like Betta won't be one of them.