Australia's JB Hi-Fi drops on weaker domestic sales at start of FY27
17/08/2026 05:44
BUZZ-Australia's JB Hi-Fi drops on weaker domestic sales at start of FY27 Updates
** Shares of JB Hi-Fi JBH.AX down as much as 14.6% to A$69.770, set for their weakest session since late 2020, if trends hold
** Stock hits its lowest level since June 4
** The electronics retailer says total sales at its Australian business fell 0.5% in the first month of fiscal 2027
** "The bigger concern for investors and driver of this morning’s sell has been the start of FY27 trading" - Cameron Curko, CIO at advisory firm Pitcher Partners
** Stock down 24.6% this year, including the day's move
(Reporting by Sherin Sunny & Rajasik Mukherjee in Bengaluru)
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