JB Hi-Fi, Wesfarmers, Super Retail all report weaker sales
JB Hi-Fi's sales fell 0.4 per cent in September, slowing further in October.
Three major retailers posted trading updates Thursday, signalling caution ahead. JB Hi-Fi's sales fell 0.4 per cent in the September quarter, down 1.4 per cent on the same period last year, and slowed further in October.
Customers are focused on value and shopping more during sales. JB Hi-Fi's Good Guys brand dropped 0.4 per cent and e&s fell 4.5 per cent.
Wesfarmers' Bunnings also moderated despite a strong start, with seasonal categories weaker. Super Retail's BCF was hit by soaring fuel costs linked to the Iran war, while Macpac battled through Australia's worst snow season in 20 years.
Computer prices are up about 50 per cent in the past six months due to AI and data centre demand, adding to the pain.
- 0.4%
- JB Hi-Fi September quarter fall
- 4.5%
- e&s brand quarterly fall
- roughly 50%
- Computer price rise in 6 months
- 4.85%
- Expected official cash rate
Why it mattersWeak retail spending signals economic strain as Australians face rising living costs and multi-decade-high interest rates expected to reach 4.85 per cent next week.
AustraliaAustralian shoppers will see retailers cautious on stock levels and promotions more frequent, while weaker retail health raises questions about employment in the sector.
Corroborated byperthnow.com.au
✓ Claims checked against the source. checked 2 h ago
