Retail Sales Data Positive for JB Hi-Fi, Harvey Norman -- Market Talk

Dow Jones

2025/02/04

0039 GMT - Australian retail sales data have bolstered Citi's conviction in JB Hi-Fi and Harvey Norman. The data showed a 6.7% increase in sales in the electrical category in the three months through December. Analyst Adrian Lemme notes JB Hi-Fi typically grows much faster than this official measure. So, Citi sees material upside to consensus expectations of 5% like-for-like sales growth by JB Hi-Fi in the December quarter. Its own forecasts are for 8.4% growth. "Harvey Norman also looks well positioned into results given the improvement in the Electrical and Furniture categories," Citi says. It expects Australia's central bank to cut interest rates three times this year, starting this month. "This should further support the consumer recovery we have been forecasting," Citi says. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

February 03, 2025 19:39 ET (00:39 GMT)

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The data showed a 6.7% increase in sales in the electrical category in the three months through December. Analyst Adrian Lemme notes JB Hi-Fi typically grows much faster than this official measure. So, Citi sees material upside to consensus expectations of 5% like-for-like sales growth by JB Hi-Fi in the December quarter. Its own forecasts are for 8.4% growth. \"Harvey Norman also looks well positioned into results given the improvement in the Electrical and Furniture categories,\" Citi says. It expects Australia's central bank to cut interest rates three times this year, starting this month. \"This should further support the consumer recovery we have been forecasting,\" Citi says. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 03, 2025 19:39 ET (00:39 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Retail Sales Data Positive for JB Hi-Fi, Harvey Norman -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRetail Sales Data Positive for JB Hi-Fi, Harvey Norman -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-02-04 08:39</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0039 GMT - Australian retail sales data have bolstered Citi's conviction in JB Hi-Fi and Harvey Norman. The data showed a 6.7% increase in sales in the electrical category in the three months through December. Analyst Adrian Lemme notes JB Hi-Fi typically grows much faster than this official measure. So, Citi sees material upside to consensus expectations of 5% like-for-like sales growth by JB Hi-Fi in the December quarter. Its own forecasts are for 8.4% growth. \"Harvey Norman also looks well positioned into results given the improvement in the Electrical and Furniture categories,\" Citi says. It expects Australia's central bank to cut interest rates three times this year, starting this month. \"This should further support the consumer recovery we have been forecasting,\" Citi says. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 03, 2025 19:39 ET (00:39 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"HVN.AU","symbol_name":"HARVEY NORMAN HOLDINGS LTD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2508117014","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2508117014","pubTimestamp":1738629540,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0039 GMT - Australian retail sales data have bolstered Citi's conviction in JB Hi-Fi and Harvey Norman. The data showed a 6.7% increase in sales in the electrical category in the three months through December. Analyst Adrian Lemme notes JB Hi-Fi typically grows much faster than this official measure. So, Citi sees material upside to consensus expectations of 5% like-for-like sales growth by JB Hi-Fi in the December quarter. Its own forecasts are for 8.4% growth. \"Harvey Norman also looks well positioned into results given the improvement in the Electrical and Furniture categories,\" Citi says. It expects Australia's central bank to cut interest rates three times this year, starting this month. \"This should further support the consumer recovery we have been forecasting,\" Citi says. ","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"HVN.AU":"HARVEY NORMAN HOLDINGS LTD","JBH.AU":"JB HI-FI LTD"},"translate_title":"Harvey Norman表示，零售销售数据对JB Hi-Fi有利——市场谈话","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"JBH.AU":0.9,"HVN.AU":0.9},"content_text":"0039 GMT - Australian retail sales data have bolstered Citi's conviction in JB Hi-Fi and Harvey Norman. The data showed a 6.7% increase in sales in the electrical category in the three months through December. Analyst Adrian Lemme notes JB Hi-Fi typically grows much faster than this official measure. So, Citi sees material upside to consensus expectations of 5% like-for-like sales growth by JB Hi-Fi in the December quarter. Its own forecasts are for 8.4% growth. \"Harvey Norman also looks well positioned into results given the improvement in the Electrical and Furniture categories,\" Citi says. It expects Australia's central bank to cut interest rates three times this year, starting this month. \"This should further support the consumer recovery we have been forecasting,\" Citi says. (david.winning@wsj.com; @dwinningWSJ) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 03, 2025 19:39 ET (00:39 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}