JB Hi-Fi sales soften after bumper year
- Reading on The Australian Financial Review
JB Hi-Fi sales soften after bumper year - Financial Review, 8/17/2021
JB Hi-Fi's new chief executive, Terry Smart, is unfazed at the prospect of overseeing weaker sales and profits in his…
On August 17, JB Hi-Fi announced its final dividend at $1.07 per share after its 8 consecutive years of record profit growth.
With consumers setting up home offices, strong demand for high-margin appliances and consumer electronics, cutting back on discounting and keeping costs under control, JB Hi-Fi had fatter gross margins for 2021 results.
Although the results were extraordinary, it was a unique event. With negative July-august trading updates, JB Hi-Fi has growing risks from increasing competitive pressure, economy reopens, investment step-up, and deflation returns.