JB Hi-Fi’s Sales Growth Slows, but Remains On Track to Hit Guidance; FVE Unchanged at AUD 23
No-moat JB Hi-Fi’s sales growth is tracking in line with our fiscal 2018 estimates. Management confirmed headline sales guidance of AUD 6.80 billion for fiscal 2018. We maintain our pro forma sales growth estimate of 4.1% and our sales estimate of AUD 6.80 billion in fiscal 2018, leaving our fair value estimate of AUD 23 unchanged. Shares are fairly valued at current prices.Like-for-like sales growth in both businesses, JB Hi-Fi and The Good Guys, slowed in the second and third month of first-q...
JB Hi Fi is engaged in the retailing of home consumer products. Co. provides a range of brands with particular focus on consumer electronics, software including music, games and movies, whitegoods and appliances.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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