JB Hi-Fi Increases Market Share but Competition Arrests Margin Expansion; FVE Raised to AUD 24.50
We have increased our fair value estimate for no-moat-rated JB Hi-Fi by 7% to AUD 24.50 from AUD 23.00, mainly due to the time value of money. We expect JB Hi-Fi to continue consolidating the fragmented Australian consumer electronics market, taking share from smaller brick-and-mortar retailers, and our revenue and EBIT margin estimates arelargely unchanged over our 10-year forecast period. In Australia, total sales for JB Hi-Fi and The Good Guys grew by 6.8% in fiscal 2018, well ahead of the Au...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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