JB Hi-Fi CEO Nick Wells has made his first public comments after the retailer decided to end its Narta membership on 31 December 2026, concluding a 25-year relationship with the buying group.
Wells said both JB Hi-Fi and Narta believe it is the right time to conclude the membership. He attributed the decision to JB Hi-Fi's current scale and said it would also allow Narta to concentrate on supporting its members. He described Narta as an important part of JB Hi-Fi's growth and thanked its team, adding that the retailer would work closely with Narta in the coming weeks to ensure a smooth transition.
He said operations would remain business as usual until the membership concludes on 31 December 2026. After that, JB Hi-Fi will bring in-house some of the services previously provided by Narta.
Wells also addressed supplier questions about the timing and the buying and data services Narta had managed. He said the move was not driven by a desire for more money, but by enabling both parties to focus on the future. From JB Hi-Fi's perspective, he added, the change was not material enough to require an ASX announcement.
Suppliers had questioned why the decision was made now and what it would mean for the buying function and data services. Wells' comments frame the exit as a transition tied to JB Hi-Fi's size and future focus.