Australian consumers are delaying purchases of electronics and other household goods as they wait for special offers, one the nation’s best-known retailers says.

JB Hi-Fi’s comparable store sales fell by 1.4 per cent in Australia in its first quarter of 2026-27 from the same period a year ago, it revealed ahead of Thursday’s annual meeting of shareholders.

“The group continues to see variability in trading and heightened competitive activity, with customers remaining focused on value and increasingly shopping during promotional events,” it said.

As a result, sales in October have slowed ahead of the Black Friday bargain hunting and Christmas trading periods.

“The group will continue to focus on driving demand and growing market share through creating great value offers for its customers,” it said.

In August, JB H-Fi suffered one of its worst days on the stock market after it pointed to a softer sales environment in the first four weeks of its new financial year, which started July 1.

At the time, chief executive Nick Wells told investors that promotional sales periods had become increasingly important as customers seek value, in a market dominated by cost of living issues.

On August 17, its shares dropped 12.3 per cent to $71.65, exceeding a 10.8 per cent slump on March 23, 2020, at the start of the Covid-19 pandemic.

On Wednesday, the stock closed at $70.66.

JB Hi-Fi is considered a bellwether stock for Australia’s discretionary retail companies sector and is closely watched by analysts.

The group generated a net profit of $489.9 million in 2025/26, a rise of 6 per cent, on sales of $11.06 billion.

-AAP