Cost And Margin PressureGrowth in the cost of doing business is projected to outpace the benefits from the AI-led tech replacement cycle, putting pressure on profit margins.
Market CompetitionIntensifying competition from Amazon and Officeworks, with events like Amazon's extended Prime Day, poses a threat to market share.
ValuationThe company is trading at a price-to-earnings ratio significantly above its long-term average, despite an expected decline in earnings growth.