The electronics retailer has heard “chatter” among white goods suppliers that they are readying to charge more in coming months.
To sweeten the deal,the Greens say much of the revenue would pay for cost-of-living measures,such as including dental cover in Medicare.
Price-matching and promotions are what JB Hi-Fi and The Good Guys are known for,and they’re not going anywhere,according to chief executive Terry Smart.
Rate-sensitive sectors including consumer stocks dragged the local sharemarket lower,despite a US equities rebound overnight following its steep sell-off.
Despite a fall in profits and margins,JB Hi-Fi shares rose sharply on Monday after the company’s results beat market expectations.
Investors are looking through the retail gloom and anticipating how cyclical companies will fare when inflation is a memory and interest rates start to fall.
The class action against the $5.4 billion electronics company is the third lawsuit against a major Australian retailer in the space of a week.
The electronics retailer surprised with better than expected results,but the company’s boss says it’s clear conditions are tightening among consumers.
The Australian and New Zealand privacy commissioners have announced a joint investigation into the hack of Latitude Financial,which exposed the details of millions of consumer finance customers.
The electronics retailer’s sales remain well above what they were before the pandemic,but growth is flattening as interest rates bite.