Electronics retailer JB Hi-Fi falls most in nearly 2 years on weak Q3

JB Hi-Fi

09/05/2024 01:57

** Shares of Australian electronics retailer JB Hi-Fi
 JBH.AX  fall as much as 6.2% to A$56.250, marking their worst
intraday drop since mid-June 2022
    ** JBH among top 3 losers in the ASX 200 benchmark index
 .AXJO ; trading at its lowest level since Feb. 9, 2024
    ** JBH's Australia comparable sales growth down 0.3% in Q3
vs down 0.1% a year ago; New Zealand comparable sales growth
down 2.9% vs growth of 10.8% a year ago
    ** YTD comparable sales growth down 7.3% at The Good Guys -
home appliance retail unit - vs growth of 3.8% a year ago
    ** JBH up 7.7% this year, as of last close

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))