JB Hi-Fi chief executive Nick Wells has given his first public comments since the retailer decided to end its Narta membership on 31 December 2026 after 25 years, saying both parties believe the time is right to conclude the relationship.
In comments to Appliance Retailer, Wells addressed supplier questions about the timing of the exit and what it means for the buying function and data services previously managed by Narta.
Wells said the decision was based on the size of JB Hi-Fi now and would also allow Narta to focus on supporting its members going forward. He described Narta as an important part of the company's growth and thanked its team, adding that JB Hi-Fi would work closely with Narta in the coming weeks on a smooth transition.
He said it would be business as usual until the membership concludes at the end of 2026. After that, JB Hi-Fi will bring in-house some of the services previously provided by Narta.
Wells acknowledged the move was important news for suppliers but said he did not believe it warranted an announcement to the ASX. According to Wells, the change is not about more money; rather, it is intended to let both parties focus on the future. On that basis, he said the decision was not material from an ASX perspective.