they have been blaming competitor discounting by companies going...

they have been blaming competitor discounting by companies going out of business / liquidating for a long time now.
if they are right then their profits should start to grow next fy but that is a big ‘if’.
australian consumers are very comfortable buying online and are quite happy to inspect an item in store then find it cheaper online afterwards.
this places margin pressure on bricks and mortar retailers like bbn, even though they are trying to grow their online presence.
consumer spending is also chronically restrained at present because household debt is high and wage growth low, thus choking disposable incomes. this will get worse when interest rates rise.
furthermore the falling aud increases import costs so bbn will have to increase prices.
they are investing in new store rollouts but the return on invested capital for this capex appears low.
this company will almost certainly grow eps over time but i currently doubt it will be >10% eps growth next year so i think the roi will be modest at best and its a hold for holders but i wouldnt buy it.
stays on the watch list.