JBH
Jb Hi-fi Limited
ASX
ACCC Proceedings against The Good Guys
Sentiment:
10 July 2024 8:00 PM
The Australian Competition and Consumer Commission (ACCC) has initiated legal action against The Good Guys, a subsidiary of JB Hi-Fi, over alleged violations of consumer law related to store credit promotions.
Worse than expected
ASX:JBH announces worse than expected results.
Summary
- The Australian Competition and Consumer Commission (ACCC) has taken legal action against The Good Guys, a subsidiary of JB Hi-Fi.
- The lawsuit pertains to store credit promotions run by The Good Guys from July 2019 to August 2023.
- The ACCC alleges that The Good Guys violated Australian consumer law and potentially the Australian Securities and Investments Commission Act in relation to these promotions.
- The Good Guys affirms its commitment to legal compliance and has cooperated with the ACCC investigation.
Sentiment
Score:
Explanation:
Positives
- The Good Guys emphasizes its commitment to legal compliance and has a comprehensive compliance program in place.
- The Good Guys has cooperated with the ACCC throughout its investigation.
Negatives
- The ACCC is taking legal action against The Good Guys, a subsidiary of JB Hi-Fi.
- The lawsuit could result in financial penalties or reputational damage for The Good Guys and JB Hi-Fi.
Key Dates
- July 2024: Date of the company announcement regarding the ACCC proceedings.
- August 2023: End date of the period during which the alleged store credit promotion violations occurred.
- July 2019: Start date of the period during which the alleged store credit promotion violations occurred.
Keywords
JBH
Jb Hi-fi Limited
ASX
Sector: Consumer Discretionary Distribution & Retail
Filings with Classifications
Worse than expected
22 June 2025 6:24 PM
Regulatory Settlement Announcement
- The company is required to pay a significant pecuniary penalty of $13.5 million and contribute $200,000 to the ACCC's costs, which represents an unexpected financial outlay.
Better than expected
9 February 2025 4:34 PM
Half Year Results
- The company's sales, EBIT, and NPAT all exceeded the prior year's results, indicating a strong financial performance.
Better than expected
9 February 2025 4:32 PM
Half Year Results
- The company reported better than expected sales and earnings growth for HY25, driven by strong customer demand and strategic acquisitions.
Better than expected
30 October 2024 5:50 PM
Annual Results
- The strong FY24 results, exceeding expectations with significant growth in sales and EBIT, indicate better than expected performance.
- The positive Q1 FY25 sales growth across all brands further supports the better than expected results.
Better than expected
30 October 2024 5:43 PM
Sales Update
- Sales growth across all divisions exceeded expectations, indicating strong consumer demand.
Worse than expected
12 September 2024 6:52 PM
Annual Report
- The overall decrease in sales, EBIT, NPAT, and EPS compared to the previous year indicates worse-than-expected results.
Better than expected
12 September 2024 6:41 PM
Annual General Meeting Notice
- JB Hi-Fi's FY2024 results significantly outperformed annual analyst consensus expectations at the start of the financial year, demonstrating better-than-expected performance.
Worse than expected
10 July 2024 8:00 PM
Missing type for ID: 3511
- ASX:JBH announces worse than expected results.
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