JB Hi-Fi’s Stellar Sales Growth Didn’t Translate to Higher Margins, Leaving Investors Underwhelmed
JB Hi-Fi’s fiscal year profit guidance suggests lower year-on-year operating margins and reinforces our view of an increasingly fierce competitive environment. We maintain our forecast of flat operating margins over the next decade and reiterate our AUD 23 per share price target, with shares screening as overvalued.No-moat-rated JB Hi-Fi reported impressive sales growth in its core JB Hi-Fi Australia business, following a strong Christmas trading period with like-for-like sales increasing by 9....
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.
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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.
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