J P M O R G A N Asia Pacific Equity Research 17 August 2026 JB Hi-Fi Limited FY26 result: Investor call feedback The focus of the investor call was on sales momentum in 4Q26, trading update, and the impact of memory and storage price increases. Further details of the result can be seen in our first take of the result here. Sales slowdown Gross margin and competitive environment Memory and storage price increases See page 4 for analyst certification and important disclosures, including non-US analyst disclos ...

J P M O R G A N Asia Pacific Equity Research 17 August 2026 JB Hi-Fi Limited FY26 Result First Take – Facing operating deleverage in FY27e as sales growth well below wage growth Overweight JBH.AX, JBH AU Price (14 Aug 26):A$81.71 Price Target (Aug-27):A$90.00 Australian Consumer Sector Bryan Raymond AC (61-2) 9003-6750 bryan.raymond@jpmorgan.com JB Hi-Fi's FY26 result was in-line with consensus and JPMe across EBIT ($734.4m vs. Consensus $735.9m and JPMe $736.8m) and NPAT ($489.9m vs. Consensus $492.2m and ...