"No retail recesssion yet" - JB Hi Fi boss Richard Murray upbeat but cautious

JB Hi Fi remains upbeat in the face of a "retail recession" with chief executive Richard Murray cautiously optimistic. 

The electronics and music retailer has posted a 7 percent growth in profit to $250 million on the back of $7.1 billion in sales. 

Mr Murray told ABC's Peter Ryan that consumers are spending despite caution in the leadup to the election.