JB Hi-Fi: Steep descent ahead

Since suggesting you sell JB Hi-Fi in July 2011, the stock has fallen 25%. James Greenhalgh explains why a poor situation is likely to get even worse.

When the former chief executive of JB Hi-Fi, Richard Uechtritz, announced his retirement in February 2010, he held 1.5m shares. He then sold 500,000 shares in March before retiring in May. After a convenient ‘leave of absence’ he rejoined the board in April 2011.

How many shares did he own at that point? Absolutely none whatsoever. Actions, as they say, speak louder than words.

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