JB Hi-Fi chief executive Nick Wells has given the retailer's first public account of its decision to leave the Narta buying group on 31 December 2026, ending a 25-year membership. He said both organisations had concluded that the timing was right for the arrangement to finish.
Wells tied the move to the scale of JB Hi-Fi today and said it would also allow Narta to concentrate on supporting its remaining members. He acknowledged that Narta had played an important part in the retailer's growth, thanked its team and said the two sides would work closely over the coming weeks to ensure a smooth transition.
Wells' remarks followed questions from suppliers after the decision was announced. They had asked why it was being made now and what it would mean for the buying function and data services previously managed by Narta. Wells said JB Hi-Fi would operate as usual until the membership ends, after which it would bring some of those services in-house.
He also addressed whether the exit warranted an announcement to the ASX, describing it as important news for suppliers but not material from the exchange's perspective. According to Wells, the decision was not about extracting more money; it was intended to let both parties focus on their future priorities.