JBH: 22 year revenue growth streak ends
Over 18 months ago I wrote an article about JB Hi-Fi (ASX:JBH). At the time it had a StockRank™ of 98 which included a Quality rank of 99. The article included the comment “Analysts are predicting that this streak of revenue increases will finally expire in 2023, but they have been wrong before.” They were wrong again. Revenue increased in FY23 by 4% to mark the 22nd year in a row of increasing revenue. However the streak finally came to an end in FY24 with a small decline of 0.4%. But when it came to predictions about profits, the analysts community were a bit closer to the money. I wrote, “Most market analysts are forecasting tough times ahead for the major retail stocks with reduced sales and increased costs leading to significant reductions in profits over the next two years.” This did come to pass, with operating profit as well as net profit declining in both FY23 and FY24. The fall in net profit in FY24 was 16.4%. The decline in net profit was due to increasing cost pressure, with the biggest component being an increase in labour costs of 6.2%, along with rent, administrative expenses…
Source: https://www.stockopedia.com/content/jbh-22-year-revenue-growth-streak-ends-1005374/
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