B Hi-Fi Ltd (ASX: JBH) shares have jumped 26.9% over the past year, significantly outperforming the ASX 200’s 8.6% gain.

Analysts are largely unconcerned about potential legal action related to extended warranties, viewing the retailer’s strong performance as resilient.

Macquarie Group notes that recent inflation pressures are unlikely to derail JB Hi-Fi as it heads into the peak buying season. Shares dipped 1.9% yesterday amid a slow trading day, but analysts remain confident in the company’s prospects.

The retailer’s latest quarterly update highlighted robust sales growth, particularly in New Zealand, where total sales rose 39.3%. Expansion plans are also underway, with new store openings scheduled for FY26 across JB Hi-Fi and its e&s brand.

Macquarie forecasts continued outperformance, citing strong sales momentum, new product launches, and upcoming sales events. Newly appointed Group CEO Nick Wells told ChannelNews that the company is in “a good position” heading into the key retail period.

Shares were trading at $103.47 each late yesterday, down 1.9%, while the ASX 200 slipped 0.2%. Over the past year, JB Hi-Fi’s total return is even stronger when factoring in two fully franked dividends of $3.75 per share, reflecting a 3.6% trailing dividend yield.

Quarterly highlights include 6% total sales growth for JB Hi-Fi Australia, a 39.3% surge in New Zealand, 2.5% growth at The Good Guys, and 4.1% growth in the e&s segment. CEO Wells confirmed plans to continue expanding the group’s footprint, with five new JB Hi-Fi Australia stores, three new New Zealand stores, and one new e&s store expected in FY26.

Despite shares closing down 4.5% on Thursday following higher-than-expected Australian inflation—which dampened expectations for an imminent RBA rate cut—Macquarie remains bullish, expecting the retailer to maintain strong momentum through the peak season.