Business
JB Hi-Fi shares jump on increased profit and dividend; ASX in the red – ABC News
The broader share market is falling, but retail stocks are on the rise after electronics retailer JB Hi-Fi benefitted from people working and staying at home during coronavirus shutdowns.
The Australian share market remains in the red despite gains for some retail stocks, after JB Hi-Fi saw its profit jump by 21 per cent as people stocked up on home office and entertainment supplies.
- About seven in 10 stocks were in the red midway through the session
- Shares in JB Hi-Fi had risen 5.2 per cent, after the company lifted its profit and final dividend
- Kogan shares were down 5.2 per cent despite a 56 per cent rise in profit
By 1:40pm (AEST), the ASX …
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