JB Hi-Fi chief executive Nick Wells has made his first public comments since the retailer decided to leave Narta when its 25-year membership ends on 31 December 2026.
Wells said the timing reflected both organisations’ view that the membership had run its course. He said the decision was based on JB Hi-Fi’s current size and would allow Narta to focus on supporting its remaining members. Narta, he added, had been an important part of the retailer’s growth, and the two sides would work closely in the coming weeks on a smooth transition.
Suppliers had questioned why the decision was made now and what it would mean for the buying function and data services previously managed by Narta. Wells said some of those services would be brought in-house after the membership concludes. Until then, he described operations as continuing normally.
Wells also addressed the significance of the change for suppliers, saying the Narta decision was an important news event for the industry but did not warrant an announcement on the ASX. He said the move was not about more money, but about enabling both parties to focus on the future, and was therefore not material from an ASX perspective.