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Featured, Gadgets, News - Tuesday, January 31, 2012 12:52 - 14 Comments
Woolworths walks away from Dick Smith
news Retail giant Woolworths today revealed plans to sell its Dick Smith chain of consumer electronics stores, following a strategic review of its broader assets finished in November 2011. It also plans to close up to 100 Dick Smith stores in the next two years.
The review, according to a statement issued by Woolworths today, concluded that Woolworths’ main strengths were primarily in “larger format, multi-channel, high-volume retail segments with market-leading positions”. In this context, the company said, “the future of the Dick Smith business, which is profitable, experiencing positive sales growth and has a strong brand position, could be better realised through new ownership.”
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