What does JB HiFi do?
JB HiFi [ASX:JBH] is a discount retailer of home entertainment products such as electronics, movies and software. It has stores throughout Australia and New Zealand. Since 2013 it has been moving into selling home appliances as well.
What’s happening to the JB HiFi share price?
Here is a weekly chart of the stock…
You can see that since the start of the year the stock has been in a reasonably strong uptrend. Since it opened at $15.73 on the January 2, it’s now risen to trade at $19.95 at the time of writing today.
What now for JBH?
The company released an announcement to the market yesterday with a trading update as part of a recent presentation. The company is continuing to invest in its growth strategy.
JBH said that sales in the second half of the financial year have seen good momentum and confirmed its current guidance for FY15. Total sales will be approximately $3.6 billion and NPAT in the range of $127–131 million.
A sturdy result from JB HiFi says the economy is travelling reasonably well and consumers are spending. If you’d like to know more about how the economy moves, and why, click here.
Editor, Markets and Money