It will consider options such as re-branding to JB Hi-Fi stores, repositioning or exiting locations

The retail industry continues to inch towards recovery, with the Bureau of Statistics reporting a continuing trend of miniscule gains.

JB Hi-Fi CEO, Richard Uechtritz, is stepping down after announcing his company’s half-year profit jump of 29 per cent to $76 million. The result was achieved despite a tougher Christmas sales period.

The retail sector has backed up a strong showing in March with a 0.3 per cent rise for April, according to the Australian Bureau of Statistics (ABS).