FY25 Sales Update
Summary
- JB Hi-Fi Australia's total sales grew by 4.9% in Q1 FY25, while comparable sales grew by 5.0%.
- JB Hi-Fi New Zealand's total sales surged by 19.6% in Q1 FY25, although comparable sales growth was more modest at 2.7%.
- The Good Guys experienced a 5.3% increase in total sales and a 5.0% rise in comparable sales during Q1 FY25.
- The company is satisfied with its Q1 FY25 sales performance and the sales of e&s in September.
Sentiment
Score: 8
Explanation: Positive sentiment due to strong sales growth across all divisions. The company expresses satisfaction with the results.
Positives
- Strong overall sales growth across all divisions.
- Positive comparable sales growth indicating underlying strength.
- Significant sales growth in JB Hi-Fi New Zealand.
Negatives
- More modest comparable sales growth in JB Hi-Fi New Zealand compared to total sales growth.
Future Outlook
The Group is pleased with its Q1 FY25 sales and is entering the important Q2 trading period.
Management Comments
- 'The Group is pleased with its Q1 FY25 sales'
Industry Context
This announcement reflects the overall performance of the consumer electronics retail sector, which is likely influenced by factors such as consumer spending patterns and economic conditions.
Next Steps
- Entering the important Q2 trading period.
Key Dates
- 02 September 2024: Completion of the acquisition of 75% of E. & S. Trading Co. (Discounts) Pty. Ltd.
- 1 July 2024: Start of Q1 FY25
- 30 September 2024: End of Q1 FY25
- 31 October 2024: Date of company announcement
Keywords
Filings with Classifications
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.
Half Year Results
- The company's sales, EBIT, and NPAT all exceeded the prior year's results, indicating a strong financial performance.
Half Year Results
- The company reported better than expected sales and earnings growth for HY25, driven by strong customer demand and strategic acquisitions.
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.
Sales Update
- Sales growth across all divisions exceeded expectations, indicating strong consumer demand.
Annual Report
- The overall decrease in sales, EBIT, NPAT, and EPS compared to the previous year indicates worse-than-expected results.
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.
Missing type for ID: 3511
- ASX:JBH announces worse than expected results.
Disclaimer: This summary was generated by artificial intelligence and its accuracy is not guaranteed. The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.