JB Hi-Fi Limited (JBH)
BUY

JBH - Stock Update

 14 Feb 2022
Sector: Consumer Discretionary

JB Hi-Fi is a consumer electronics and whiteware retailer with a 316 store network across Australia and New Zealand.

The company continues to deliver impressive results despite challenging conditions. This supports our BUY rating on JBH. Furthermore, the company has announced a capital return of $250million to shareholders via an off-market buyback.

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Company Overview

  • JBH has reported today with a strong 1H22 result.
  • They delivered positive comp store sales growth in January, despite most of its peers in the consumer discretionary space seeing a big step down in sales.
  • Given the strong operating momentum and sizeable net cash position, the company has announced that it will do a $250m off-market buyback.

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