JB Hi-Fi (JBH) is a chain of electrical stores, selling leading brands of hi-fi, speakers, televisions, DVDs, cameras, car sound, ہوم theatre, computers, white goods, portable audio and a variety of music, games and movies.
The company has been able to grow its sales over the last 5 years in what can only be described as one of the most difficult trading conditions for retailers in over 20 years.
JBH’s strategies for growth are simple: increase the number of stores, increase sales, and through that, increase profit. JBH’s expansion is not only in the Australian market, but also in New Zealand. Since entering the New Zealand market in early 2007, it has opened 13 stores.
Margin growth and consumer optimism
JBH’s 1H13 results impressed on several fronts, with sales revenue reaching $1.3 billion, 3.1% higher than the 1H12 result. Its net profit climbed to $82.1 million, a 3% improvement compared to the prior corresponding half.
JBH’s most surprising result was its gross margin, which increased سے طرف کی 28 basis points. This was a very impressive result considering that the gross margin of its competitor, Harvey Norman, fell سے طرف کی 260 basis points over the same period.
We think that the operating environment for retailers is looking مزید optimistic, with the Westpac Consumer Sentiment Index returning to a reading of over 100 in the last survey.
In its latest reading, the consumer sentiment index settled at 102.2 in June, 4.7% higher compared to the prior month’s reading.
Sales and profit upgrade
Last ماہ JBH announced an update to its گزشتہ sales and net profit after tax (NPAT) guidance for FY13.
The company now expects sales in FY13 to be around $3.3 billion and NPAT to be within the range of $112.0 million to $116.0 million, a 7% to 11% increase in NPAT on the prior year.
The گزشتہ FY13 guidance was for sales circa $3.25 billion and NPAT within the range of $108.0 million to $112.0 million.
JBH کہا the upgrade has been driven سے طرف کی stronger than expected sales in the سیکنڈ half of FY13.
Specifically the company کہا sales growth in Australian and New Zealand for the four months ended 30 April 2013 was 10.3% and comparable store sales growth was 3.0%.
Outlook
While the opening of 13 new stores in FY13 drove much of JBH’s impressive sales growth, comparable sales growth was still solid.
JBH’s 3% comparable stores sales growth is running at a much higher level than fellow retailers David Jones who saw a 3.4% decline in comparable stores sales in the حالیہ quarter and Myer who only saw a 0.4% rise.
The other factor we see helping JBH is the lower Australian dollar. We think this over the long-term will see consumers turn back to retail stores as the online market becomes relatively مزید expensive.
Overall, we see continued strength for JBH’s share price to be driven سے طرف کی strong sales growth and solid margins
Maddision's P.O.V
I woke up with Niall hugging me tightly. I quietlygot away and left for some breakfast. When I left the hotel I sighed and went out. "don't get lost don't get lost" the thoughts repeted in my head. It was good at first the wind blowing at the perfect speed. I was walking when like 40 شائقین surrounded me. I signed like 20 papers took like 70 pictures. But ارے it was pretty fun. I left the cafe and headed back when paparazzi showed up I ran in and heard to the flat. Great I thought in my head. When I went inside Miley and Harry were watching t.v. "did آپ get surrounded سے طرف کی fans" کہا Harry. "yeah why"I کہا out of breath. "cause آپ are a mess no offense". کہا Louis waking up. I hopped in the شاور singing loudly.
Nialls P.O.V
I woke up and heard madision singing. I gestured the boys and madision to come. Wow she sang beautifully we were listening when the water stopped we ran down stairs and were in the living room.
I woke up with Niall hugging me tightly. I quietlygot away and left for some breakfast. When I left the hotel I sighed and went out. "don't get lost don't get lost" the thoughts repeted in my head. It was good at first the wind blowing at the perfect speed. I was walking when like 40 شائقین surrounded me. I signed like 20 papers took like 70 pictures. But ارے it was pretty fun. I left the cafe and headed back when paparazzi showed up I ran in and heard to the flat. Great I thought in my head. When I went inside Miley and Harry were watching t.v. "did آپ get surrounded سے طرف کی fans" کہا Harry. "yeah why"I کہا out of breath. "cause آپ are a mess no offense". کہا Louis waking up. I hopped in the شاور singing loudly.
Nialls P.O.V
I woke up and heard madision singing. I gestured the boys and madision to come. Wow she sang beautifully we were listening when the water stopped we ran down stairs and were in the living room.
Madisions P.O.V
_____________1 week later____________________________
I was with Niall cuddled close watching finding memo. We were smiling when somebody knocked on the door. We got up and saw it was Miley I saw Niall was about t close the door but I stopped him. "what do آپ want backstabbing user آپ little". "seriously what do آپ want Miley" I کہا in a calm voce not like Niall with anger flooding through I could feel his دل beating fast. "look I'm sorry I was meaning to tell آپ guys earlier but I got nervouse" says Miley crying. "well lets take آپ in away for, the rain. I take her I'm and give her tea. While Niall went upstairs. We were talking for hours and I called the boys and she apologized to all of them manegment to. Even the شائقین with a twit cam. We all gathered and we threw a party. What seemed like a rough start ended a fun week.
_____________1 week later____________________________
I was with Niall cuddled close watching finding memo. We were smiling when somebody knocked on the door. We got up and saw it was Miley I saw Niall was about t close the door but I stopped him. "what do آپ want backstabbing user آپ little". "seriously what do آپ want Miley" I کہا in a calm voce not like Niall with anger flooding through I could feel his دل beating fast. "look I'm sorry I was meaning to tell آپ guys earlier but I got nervouse" says Miley crying. "well lets take آپ in away for, the rain. I take her I'm and give her tea. While Niall went upstairs. We were talking for hours and I called the boys and she apologized to all of them manegment to. Even the شائقین with a twit cam. We all gathered and we threw a party. What seemed like a rough start ended a fun week.
Shapires P.O.V
I was being rushed to the hospital with Louis driving.. Eleanor and Danniell were calming down with breathing techniecs. Harry was panicking Niall was eating and cracking jokes. Liam was soothing my back. Louis was driving and making me laugh. "AHHHHH HURRY OH MY GOD IT HURTS" I say crying it feels like somebody is slamming you're stomache with a ax. We finally arrived at the hospital they rushed me in with Harry اگلے to me during the delivery. "alright 1.2.3 PUSH" I push.
_________________3 hours later________________________
I gave birth to baby Darcy Ann styles. Harry was crying so was I. She had curly hair. Dimples. Tan. Blue green eyes.
I was being rushed to the hospital with Louis driving.. Eleanor and Danniell were calming down with breathing techniecs. Harry was panicking Niall was eating and cracking jokes. Liam was soothing my back. Louis was driving and making me laugh. "AHHHHH HURRY OH MY GOD IT HURTS" I say crying it feels like somebody is slamming you're stomache with a ax. We finally arrived at the hospital they rushed me in with Harry اگلے to me during the delivery. "alright 1.2.3 PUSH" I push.
_________________3 hours later________________________
I gave birth to baby Darcy Ann styles. Harry was crying so was I. She had curly hair. Dimples. Tan. Blue green eyes.
Saphires P.O.V
______________4 years later___________________________
We were I'n the room with the جیلی on my belly Harry was smiling. The doctor was examining the gender of the baby. "it is a ...girl" me and Harry both smile. My memory came back really fast."well hazza what do آپ want to name her" I say looking at my wedding ring."Darcy Ann styles"says Harry smiling."alright Darcy Ann styles it is" we both get up me wiping off the جیلی pulling down my shirt. We told the rest that it was a girl. They all congratulate me and Harry. We head back home.
______________________3 months later_________________
I was laying with Harry and the rest of the lads.when i felt the most painful pain. I drop my سیب, ایپل juice. And scream."HARRY ITS COMING IT'S COMING RIGHT NOW".
______________4 years later___________________________
We were I'n the room with the جیلی on my belly Harry was smiling. The doctor was examining the gender of the baby. "it is a ...girl" me and Harry both smile. My memory came back really fast."well hazza what do آپ want to name her" I say looking at my wedding ring."Darcy Ann styles"says Harry smiling."alright Darcy Ann styles it is" we both get up me wiping off the جیلی pulling down my shirt. We told the rest that it was a girl. They all congratulate me and Harry. We head back home.
______________________3 months later_________________
I was laying with Harry and the rest of the lads.when i felt the most painful pain. I drop my سیب, ایپل juice. And scream."HARRY ITS COMING IT'S COMING RIGHT NOW".
One Direction
Madision' s P.O.V
When I get done hugging Niall we go to the living room where the boys are. "guess who's official"I say with Niall blushing. "no aww congrats guys"says Miley. She scoots her leg flinching. Harry quickly getting up. He holds her leg putting a ice-pack. "no here Harry first آپ have to elevate her leg then put the ice-pack okay" I say دکھانا him how to do the whole thing. Me and Miley and the boys became family. We would do mostly everything together yeah I was nervouse to see them. But I cracked a joke and then we became close.
Miley's P.O.V
I was on the room with Harry when I heard the most beutiful voice. I walked over and saw Madison singing "I was thinking about her thinking about me thinking bout us thinking what we going to be I open my eyes it was only just a dre-e-m" I gestured Harry to come we both listened to her singing. We recorded it and took it to Niall. "should she شامل میں us in the band" says Harry to management.
When I get done hugging Niall we go to the living room where the boys are. "guess who's official"I say with Niall blushing. "no aww congrats guys"says Miley. She scoots her leg flinching. Harry quickly getting up. He holds her leg putting a ice-pack. "no here Harry first آپ have to elevate her leg then put the ice-pack okay" I say دکھانا him how to do the whole thing. Me and Miley and the boys became family. We would do mostly everything together yeah I was nervouse to see them. But I cracked a joke and then we became close.
Miley's P.O.V
I was on the room with Harry when I heard the most beutiful voice. I walked over and saw Madison singing "I was thinking about her thinking about me thinking bout us thinking what we going to be I open my eyes it was only just a dre-e-m" I gestured Harry to come we both listened to her singing. We recorded it and took it to Niall. "should she شامل میں us in the band" says Harry to management.
