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Current Price Data+
Current Price
Open
High
Low
Last Close
Volume
Price Movement
$ 19.140
$ 18.950
$ 19.160
$ 18.950
$ 19.110
269,530
$ 0.030 0.157 %
Current Broker Consensus Recommendation
Recommendation :
Hold
Recommendation Date :
30th Jul 2010
12 Month Target Price (average) :
$22.024
Brokers Surveyed :
9
Market Statistics
% of Market:
0.1623
% of Sector:
9.8870
Sector:
Consumer Discretionary
Industry Group:
Retailing
Industry:
Specialty Retail
Company Overview
Company Overview
JB Hi-Fi Limited(JBH) is a specialty discount retailer of branded home entertainment products. The Group's products fall in into consumer electronics, car sound systems, and music and DVDs and white goods. JBH does not operate a warehouse; instead all stock is delivered directly to each store and largely stored on the shop floor. As at 9 June 2009, the company had 105 operating stores around Australia.
Company History
The business was founded in 1974 as a discount retailer of Hi-Fi equipment and recorded music through a single store in Melbourne. In August 2000 vendor shareholders (i.e., those existing prior to listing) acquired the business, at which stage there were 10 stores. Under current tenure, JBH has expanded its store base to more than 135 stores. The company listed on the ASX on 23 October 2003.
Differentiating Factor
JBH is positioned as a discount retailer, offering everyday low prices accommodated through a low-cost business model. Operating costs are around 15% of sales and falling. The key factors underscoring the company’s low cost base are economies of scale in product sourcing (through buying group NARTA) and low occupancy costs.
Major Customers & Competitors
Competitors include major retailers Harvey Norman, Domayne, The Good Guys and specialty retailers such as Sanity Entertainment, Strathfield Group, HMV, Video Ezy and Blockbuster.
Financial Summary
Year to Jun
NPAT Rep $M
NPAT1 Adj $M
EPS c
EPS chg %
PER x
PER rel All Ords x
PER rel Sector x
DPS c
Yield %
Franking %
ROE %
2007A
40.39
40.39
38.1
55.5
50.2
n/a
n/a
11.0
0.6
100.0
35.7
2008A
65.09
65.09
60.7
59.3
31.5
n/a
n/a
26.0
1.4
100.0
39.7
2009A
94.44
94.44
87.6
44.3
21.8
2.0
1.8
44.0
2.3
100.0
41.2
1NPAT is normalised by removing non-recurring items and goodwill. All the above statistics are derived from normalised earnings.
Sydney Morning Herald 31/07/2010 | GRAINCORP and AWB have agreed on a multibillion-dollar merger so they can compete against larger rivals in the consolidating global agribusiness sector.
The Age 31/07/2010 | GRAINCORP and AWB have agreed to a multibillion-dollar merger in a bid to compete against larger rivals in an increasingly consolidating global agribusiness sector.
Sydney Morning Herald 31/07/2010 | I t's official: money doesn't buy you happiness. But financial security certainly seems to play a role in whether you're a glass half full or glass half empty type of person.
The Age 31/07/2010 | This reporting season will provide something for everyone, from wary retail investors and professional fund managers to stockbroking analysts, writes Ian McIlwraith.
Sydney Morning Herald 31/07/2010 | Most of us want to make a buck and retire early. But for the golden oldies of business, there's no question of quitting, writes Michael Evans.
$ 19.140
