JB Hi-Fi has hit a record high ahead of their latest financials being reported on August 12th.
As of this morning shares in the CE retailer were trading at $66.70 up 1,2%.
This month the shares at the retailer who also owns The Good Guys, have climbed 6.14%
The record high comes as consumers cut back on spending with the business benefiting from new smartphone launches by brands including Samsung and Motorola who have rolled out new foldable devices, as well as new AI notebooks with Qualcomm Snapdragon X Plus and Snapdragon X Elite processors from Lenovo, HP and ASUS.
In the last calendar year JBH has outperformed the overall industry with sales tipped to be between AU$4.37 billion and AU$4.44 billion.
Last quarter reported total sales at its Australian electronics stores were down 0.1% for the quarter, and down 0.3% on a comparable basis.
Sales were also down 0.8% at appliances retailer The Good Guys while sales jumped 16.8% at its New Zealand electronics stores, and 2.9% on a comparable basis.
Also climbing today was Wesfarmers whose shares rose 1.4 per cent to a record high of $71.84 despite Morgan Stanley doubling down on its Sell recommendation this month.
The bigger question is how sales are going in the first few weeks of FY25 and what impact an RBA rate rise could have on future sales.
UBS said last month that its 2Q consumer survey showed surprising resilience with spending intentions hitting a record high.
