Note: This report provides analysis and commentary based on public information and is not intended as investment advice. Investors should conduct their own research and consult with financial advisors before making investment decisions.
Latest Update - Q3 FY25 Key Takeaways
JB Hi-Fi Australia comparable sales growth moderating to 6.0% in Q3 FY25, down from 7.2% in 1H
JB Hi-Fi New Zealand growth significantly slowed to 7.5% in Q3, compared to exceptional 20.0% in 1H
The Good Guys showing decelerated growth at 4.1% in Q3, down from 9.2% in 1H
e&s growth dramatically slowed to just 0.9% in Q3, compared to 7.2% in 1H
Online sales continued strong performance at 16.7% of total sales in 1H, growing 16.4% year-on-year
Maintaining strong balance sheet with AUD 555.1 million net cash position as of December 2024
What's Changed?
Growth Momentum: Moderation across all segments in Q3, particularly significant in e&s and New Zealand
Premium Segment Strategy: e&s growth deceleration (0.9% vs 7.2%) raises questions about premium segment expansion
Multichannel Expansion: Online penetration continues growing strongly to 16.7% of total sales
New Zealand Turnaround: Significant milestone reached with positive EBIT, though growth moderating
Operational Efficiency: Continued cost discipline with CODB improvements despite inflationary environment
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