JB Hi Fi Ltd

JBH: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$97.00	Sgryh	Rlrxmxbbj

JB Hi-Fi: Tax Cuts and Wage Increases to Improve Tight Household Budgets

Johannes Faul

May 9, 2024

Discounting has gripped the consumer electronics and household appliance retailing categories. Deflation in household appliances and consumer electronics indicates intense competition amid weak consumer demand. According to the Australian Bureau of Statistics, average prices of major and small household appliances decreased by 2% in the March quarter of 2024. We expect promotional activity to stay elevated and weigh on JB Hi-Fi’s sales and gross profit margins in the second half of fiscal 2024.

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