JB Hi Fi Ltd

JBH: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$78.00	Fryd	Ymfblgbb

JB Hi-Fi Earnings: Overall Market Momentum Improving and Taking Share

Johannes Faul

Aug 12, 2024

JB Hi-Fi’s trading momentum keeps on improving—beating our prior expectations. Its Australian sales grew in the June 2024 quarter compared with the previous corresponding period. This is the first time Australian quarterly sales increased on the PCP since December 2022. On average, no-moat JB Hi-Fi is outperforming its peers. According to the Australian Bureau of Statistics, retailing sales of electrical and electronic goods declined by 1% in the June 2024 quarter. We calculate JB Hi-Fi’s Australian sales increased by 3%—a delta of 4 percentage points.

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