JBH +6.86%: a strong day out for the retailer today with 2Q sales figures coming in better than feared. JB Hi-Fi said that sales for their Australian business was up 1.2% on the 2nd quarter of last year, The Good Guys adding 2.8% while the New Zealand business fell -3.4% largely due to lockdowns. The 1H looks to have come in better than the market expected with many fearing a tangled up supply chain would weigh on the key quarter’s performance. Unaudited EBIT and Net Profit were both ~9% below 1HFY21, but still a decent beat to expectations. The CEO saying households upgrading technology and appliances drove the solid performance. The commentary also helped comp Harvey Norman (HVN) rally today.
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Performance update for March, stocks that drove returns & our current positioning
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Fri 19th April – ASC200 -117pts, Pilbara (PLS), Whitehaven (WHC) & Woodside (WDS)
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Market Matters Research Lead Shawn Hickman with David Koch
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Friday 19th April – DOW up 22pts, SPI down -55pts
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