2301 GMT [Dow Jones]--Electronics retailer JB Hi-Fi's stock could underperform Australia's benchmark S&P/ASX 200 index today after its 3Q sales update pointed to softer trading in recent weeks, suggests Barrenjoey. Like-for-like sales growth at its JB Hi-Fi Australia business slowed from 7.1% in January to 5.4% in February and March. It was a similar trend at The Good Guys. Analyst Tom Kierath says it's unclear how the later timing of Easter impacted sales growth. "All told 3Q like-for-like sales growth of 6.0% and 4.1% for JB Hi-Fi Australia and The Good Guys is solid in a value focused consumer environment," Barrenjoey says. "Given the premium rating and 3Q sales growth 50-100bps lower versus consensus we see weakness today." JB Hi-Fi ended Tuesday at A$103.61. (david.winning@wsj.com)
(END) Dow Jones Newswires
May 06, 2025 19:04 ET (23:04 GMT)
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