JB Hi-Fi says low interest rates a double-edged sword for retailers

Original article by Sue Mitchell
The Australian Financial Review – Page: 19 : 25-Oct-19

JB Hi-Fi has advised that its Australian stores recorded same-store sales growth of 3.7 per cent in the September quarter, while its New Zealand arm’s same-store sales were up 3.8 per cent. JB Hi-Fi CEO Richard Murray says group sales are still expected to increase by about 2.2 per cent to $7.65bn in 2019-20. He notes that while consumer confidence has improved since the 18 May federal election, the cash rate’s fall to a record low has also prompted some fears about the state of the economy.

CORPORATES
JB HI-FI LIMITED – ASX JBH, THE GOOD GUYS, NICK SCALI LIMITED – ASX NCK, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL

Betta is best, according to furniture and electrical buyers

Original article by Roy Morgan
Market Research Update – Page: Online : 1-Oct-19

Betta Home Living/Betta Electrical has won Roy Morgan’s Customer Satisfaction Award for furniture and electrical retailers for the third month in a row, with a customer satisfaction rating of 95% in August 2019. This is 15% higher than a year ago. In joint second place are IKEA and JB Hi-Fi, which each have customer satisfaction ratings of 90%, both down 1% from a year ago. Roy Morgan’s research also shows that women do the majority of the shopping at Betta Home Living/Betta Electrical, and nearly half its customers are aged 50 or over, while the average IKEA customer is female and aged 25 to 49. These findings come from the Roy Morgan Single Source survey, which is based on in-depth face-to-face interviews with over 50,000 Australians each year in their homes.

CORPORATES
ROY MORGAN LIMITED, BETTA HOME LIVING, BETTA ELECTRICAL PTY LTD, IKEA TRADING PTY LTD, JB HI-FI LIMITED – ASX JBH

Retail king Harvey says: ‘I’m never going to retire’

Original article by Carrie LaFrenz
The Australian Financial Review – Page: 15 : 2-Sep-19

Harvey Norman chairman Gerry Harvey says the company recorded three per cent growth in same-stores sales during the first two months of 2019-20. The furniture and consumer electronics retailer’s pre-tax net profit for 2018-19 was 8.4 per cent higher than previously, at $574.56m. Meanwhile, Harvey has ruled out retirement, despite approaching his 80th birthday.

CORPORATES
HARVEY NORMAN HOLDINGS LIMITED – ASX HVN

Gupta to make 20,000 Aussie electric cars

Original article by Simon Evans
The Australian Financial Review – Page: 14 & 18 : 30-Apr-19

British billionaire Sanjeev Gupta has indicated that GFG Alliance will announce further details of its plans to build electric cars in Australia within weeks. Gupta says the company aims to build between 10,000 and 20,000 electric cars in Australia, adding that he is of the view that the nation should be a manufacturer of such vehicles rather than just importing them. He also says the price of electric cars is likely to fall over time as more consumers embrace the technology.

CORPORATES
GFG ALLIANCE, GORDON MURRAY DESIGN, ARRIUM LIMITED, ARCELOR MITTAL SA, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

House slump hits Harvey Norman

Original article by Sue Mitchell
The Australian Financial Review – Page: 17 & 22 : 1-Mar-19

Furniture and electronics retailer Harvey Norman has posted a 2018-19 interim net profit of $222.8m, which is 7.3 per cent higher than previously. Its Australian franchised stores recorded sales of $2.95bn for the period, a decline of 1.7 per cent, and there was an 0.6 per cent fall in same-store sales. However, its overseas stores boasted sales of $1.07bn, an increase of 12.1 per cent. Chairman Gerry Harvey is confident that Harvey Norman’s overseas stores will eventually contribute 50 per cent of its earnings.

CORPORATES
HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, ALLERON INVESTMENT MANAGEMENT LIMITED, IKEA

JB Hi-Fi surges as tech reigns

Original article by Eli Greenblat
The Australian – Page: 19 : 12-Feb-19

Consumer electronics retailer JB Hi-Fi has posted a 2018-19 interim net profit of $160.1m, which is 5.5 per cent higher than previously. JB Hi-Fi has forecast that its full-year net profit will be within the range of $237m to $245m; full-year sales are expected to be $7.1bn, after sales totalled $3.843bn in the first half. CEO Richard Murray says consumers still seem to be buying gadgets such as smartphones and internet-connected fridges, at a time when many discretionary retailers are struggling.

CORPORATES
JB HI-FI LIMITED – ASX JBH, THE GOOD GUYS, OPHIR ASSET MANAGEMENT PTY LTD

Hybrid and fully electric vehicles now considered as serious alternatives to petrol

Original article by Roy Morgan
Market Research Update – Page: Online : 17-Dec-18

A Roy Morgan Single Source survey shows that 52.2% of Australian drivers would now seriously consider buying a hybrid vehicle, compared with 48.8% a year ago. Interest in buying a fully electric vehicle has increased from 31.6% to 36.2% over the last 12 months. The overall consideration for electric based vehicles (hybrid or fully electric) is now 56.1%, an increase from 52.4% last year and well ahead of the nearest alternative, diesel on 45.5%. Diesel and LPG had been seen as the main alternatives to petrol up to 2015, but both have shown a declining trend over the last three years. Meanwhile, an estimated 77.5% of vehicles currently run on petrol, but this is likely to decline as only 63.7% of drivers say that their next vehicle is most likely have a petrol engine. These are some of the latest results from Roy Morgan’s ‘Automotive Currency Report’, which is based on in-depth personal interviews conducted face-to-face with over 50,000 Australians per annum in their own home, including over 37,000 drivers aged+18.

CORPORATES
ROY MORGAN LIMITED

JB Hi-Fi growth slows as competition intensifies

Original article by Sue Mitchell
The Australian Financial Review – Page: 11 & 16 : 14-Aug-18

Consumer electronics retailer JB Hi-Fi has posted a 2017-18 underlying net profit of $233.2m, which is 12.3 per cent higher than previously. Group earnings rose 14.5 per cent to $350.6m, while its Australian division’s earnings were 11.4 per cent higher at $292.3m. Sales grew by 21.8 per cent in 2017-18, but expectations of competition from key rivals and fewer store openings have prompted the company to pare back its sales growth forecast to just 3.6 per cent in 2018-19. Shareholders will receive a full-year dividend of $0.132 per share.

CORPORATES
JB HI-FI LIMITED – ASX JBH, THE GOOD GUYS, HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, AMAZON.COM INCORPORATED, MARTIN CURRIE INVESTMENT MANAGEMENT LIMITED, JP MORGAN AUSTRALIA LIMITED

JB Hi-Fi stays firm on outlook

Original article by Eli Greenblat
The Australian – Page: 26 : 8-May-18

Australian-listed JB Hi-Fi has defended its decision to include a profit warning in a presentation to the recent Macquarie Australia Conference rather than issuing a statement to the stock exchange. Responding to a query from stock exchange operator ASX Limited, the consumer electronics retailer said it had been of the view that the information in the presentation would not have a material effect on its share price. JB Hi-Fi’s shares fell by more than 10 per cent following the presentation.

CORPORATES
JB HI-FI LIMITED – ASX JBH, ASX LIMITED – ASX ASX, ALPHINITY INVESTMENT MANAGEMENT PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG

Linfox driven to be first adopter of electric truck technology

Original article by Jenny Wiggins
The Australian Financial Review – Page: 15 : 30-Jan-18

Linfox chairman Peter Fox says the trucking company is keen to investigate the use of electric trucks, particularly for its Armaguard business. Tesla has revealed plans for an electric truck that could run at maximum weight for 500 miles before needing to be recharged. Fox says there would need to be a lot more charging stations available before Linfox could consider using electric trucks, while he does not think that governments should subsidise the use of electric vehicles.

CORPORATES
LINFOX PTY LTD, TESLA INCORPORATED, AUSTRALIAN BUREAU OF STATISTICS, TOLL HOLDINGS LIMITED, AUSTRALIA. DEPT OF INFRASTRUCTURE AND REGIONAL DEVELOPMENT, AUSTRALIAN TRUCKING ASSOCIATION LIMITED, AUSTRALIAN LOGISTICS COUNCIL