I haven’t got any shares in Dick Smith…which is a relief considering what’s happened to their price. I suppose that, for completeness, I ought to add that a few of the shares that we have got haven’t been covering themselves in glory lately, so perhaps I shouldn’t really talk too much about these matters!
Be that as it may, I had a few moments to spare, so I went into our local Dick Smith store. I’m no retailer, but this store seemed to be in a mess. Gaps on the shelves, a limited range of some items that I would have thought would be their bread-and-butter, and a wall full of heavily discounted phone cases (for $1!). Why not display something that you’ll make money on?
Their recent junk mail offering was colourful …but it was hard to find the name “Dick Smith” in it. It was only mentioned incidentally on the cover page, and on a lot of the other pages it was hard to find at all. To the casual observer, things such as this, and the supposed lack of control over inventory, suggest that the media reports that all is not well at this company are well-founded!