JB Hi-Fi shares slip despite Q1 sales growth meeting group expectations
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More news: JB Hi-Fi shares fell in morning trade even though first quarter sales were delivered in line with the group’s expectations.
At 11:34am AEDT, shares in JB Hi-Fi shares had fallen 3.7% to $109.33 as the wider discretionary sector fell 2.6%.
The rate of comparable sales growth for the Australian business in Q1 FY26 remained flat compared to the previous corresponding period. Comparable sales growth at the Good Guys slowed to 2.4% in Q1 FY26 when compared to the 5% delivered in Q1 FY25.
JB Hi-Fi posts jump in Q1 sales growth
The news: Electronics retailer JB Hi-Fi has reported an uptick in first-quarter sales growth, in line with the company's forecasts.
The numbers: The group recorded total sales growth in Australia of 6%, compared to 4.9% in the prior corresponding period. Comparable sales growth was 5%, flat year on year.
Total sales growth in its New Zealand business jumped to 39.3%, up from 19.6% a year ago. Comparable sales growth of 24.3% compared to 2.7% in Q1 FY25.
The Good Guys saw sales growth fall to 2.5% from 5.3% in the year-ago period. Comparable sales growth was 2.4% compared to 5% a year ago.
The context: JB Hi-Fi, which holds its annual general meeting this morning, said the Q1 result was in line with its expectations.
The source: ASX
