Changes are happening - please bear with us while we update our site.

Join Free
Log in

Changes are happening - please bear with us while we update our site. Click here to give us your advice and feedback.

Join Free
Log in

JB Hi-Fi Shares Down On Lower Profit Expectations

JB Hi-Fi Limited (ASX:JBH) shares are down after it reported its quarterly sales and revealed a profit update.
Picture of Jaz Harrison

Jaz Harrison

Jaz is a Staff Writer for Rask. She is a keen investor who loves to thoroughly poke holes in an investment idea before it has a chance of making it into her portfolio. Jaz invests for the long-term and doesn't sweat the small stuff. She strongly believes that empowering people with knowledge is the best way for them to take charge of their finances, which is exactly the approach she takes with her own money and investments.
More analysis

JB Hi-Fi Limited (ASX: JBH) shares have fallen 7% lower according to Google Finance after providing investors with an update on how sales and profit are tracking for its 2018 financial year.

JB Hi-Fi is the company behind the JB Hi-Fi electronics store and The Good Guys.

In its update JB Hi-Fi revealed:

  • JB Hi-Fi third-quarter sales growth of 6.8%, with same-store sales growth of 4%
  • The Good Guys third-quarter sales declined 1.3% and comparable sales declined 2.9%
  • Management reaffirmed the FY18 sales target of around $6.85 billion, of which $4.75 billion will be from JB Hi-FI and $2.1 billion from The Good Guys
  • The company predicts profit will be around $230 million, instead of the previous target of $235 million to $240 million

JB Hi-Fi blamed challenging conditions in the home appliance market due to unfavourable weather conditions and “heightened price competition” which had an effect on the gross margin.

Management said that the company will continue to focus on sales and market share. JB’s management is confident in the group model for the medium and long-term outlook.

Did you know it’s free to join The Rask Group’s Investor Club Newsletter? It’s a regular (usually weekly) news and educational update on financial markets, investing and unique strategies. Join today and get ready to laugh and learn.

Click here to join The Rask Group’s Investor Club Newsletter Today

$50,000 per year in passive income from shares? Yes, please!

With interest rates UP, now could be one of the best times to start earning passive income from a portfolio. Imagine earning 4%, 5% — or more — in dividend passive income from the best shares, LICs, or ETFs… it’s like magic.

So how do the best investors do it?

Chief Investment Officer Owen Rask has just released his brand new passive income report. Owen has outlined 10 of his favourite ETFs and shares to watch, his rules for passive income investing, why he would buy ETFs before LICs and more.

You can INSTANTLY access Owen’s report for FREE by CLICKING HERE NOW and creating a 100% FREE Rask Account.

(Psst. By creating a free Rask account, you’ll also get access to 15+ online courses, 1,000+ podcasts, invites to events, a weekly value investing newsletter and more!)

Access all reports now

Unsubscribe anytime. Read our Terms, Financial Services Guide, Privacy Policy. We’ll never sell your email address. Our company is Australian owned.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

Latest stories

Free passive income report
Skip to content