Back
~
2
min read
· Posted on
February 21, 2024

JB Hi-Fi's done it again! And by 'it' we mean beating analysts' expectations

JB Hi-Fi exceeded analysts' expectations by scoring its most sales ever.

What's the key learning?

  • JB Hi-Fi scored its most sales ever in the last financial year at $9.2 billion - 5% more than analysts expected
  • Like-for-like sales climbed 11% in JB Hi-Fi's Aussie division in June
  • Like-for-like sales is a financial metric used to measure how companies are growing from one period to the next

👉 Background: JB Hi-Fi is the beloved electronics and home appliances retailer and a cool place to hang out if you’re a teenager who’s into ‘alternative music’. JB launched in 1975 and has grown to over 200 stores across Australia and New Zealand.

👉 What happened: JB's business scored its most sales ever in the last financial year at $9.2 billion. That's 5% more than analysts were expecting.

👉 What else: This crew’s net profits also came in more than 30% higher than expected. So how did JB manage to beat analysts’ expectations? Well, apparently it had a really strong June. In fact, like-for-like sales climbed 11% in its Aussie division that month.

What's the key learning?

💡Like-for-like sales is a financial metric used to measure how companies are growing from one period to the next.

💡For example, things like a big expansion or an acquisition could artificially inflate a company’s sales numbers. Like-for-like sales can also give us a good idea of whether a company's existing stores are doing well, or whether it’s the newbies that are driving the growth.

💡 So, retailers like JB often report like-for-like sales to give a little bit more insight into what’s going on under the hood.

Ready to win at money?

Sign up for Flux and join 100,000 members of the Flux family

A button to App StoreGoogle Play store button
Excellent  4.9 out of 5
Star rating
No items found.