A 4SquareMedia Website

SECTIONS
> Wearable Technology
> Appliances
> Automation
> Automotive
> Buyers Guide
> CEDIA 2010
> Comment
> CES
> Content & Downloads
> Digital Photography
> Gaming
> Green Energy
> HD
> Home Cinema
> Home Office
Accessories
Broadband & Web Hosting
Components
Desktop PCs
Industry
Memory
Microsoft Windows
Monitors And Screens
Notebooks & Tablets
Platforms
Printers & Multi-Function
Security & Support
Software
Storage
> How Stuff Works
> Installation
> Portable Players
> Media Centres
> Phones
> Real Sound
> Reviews
> Smart Awards 2013
> Smart Ideas
> Trio Awards 08
> TVs & Large Display
> Wireless & Networking
PRODUCT REVIEW
> Featured Reviews
SERVICES
> Advertising
> Competitions
> Contact
> Disclaimer
> Signup
> Terms & Conditions
SUBSCRIBE
> Subscribe to Newsletter
> Subscribe to Magazine



Top 10 Viewed Articles
  1. Who Has The Best LCD TV: Sony, Toshiba Or Samsung?
  2. FIRST LCD TV REVIEW: LG Scarlet 60 Vs Samsung Series 6
  3. Sony PS4 Not Far Away
  4. The Humble PC Gets A Whopping Makeover
  5. Sony Bravia LCD TVs Vs Samsung LED HD TVs Which is Best?
  6. Toshiba Working With Microsoft On New Entertainment Xbox
  7. Blu-ray Xbox 360 Planned By Microsoft
  8. Massive Failure Rate For Xbox 360 Exposed
  9. Free Sony PS3 Con
  10. How To Build Your Own Digital Media Server: Part I
Top 10 Viewed Reviews
  1. First Review: Samsung Series 7 LED TV
  2. Movies On-The-Go With Teac DVD Boombox
  3. Who Has The Best 32-inch Screen: Panasonic, Samsung, or Sony?
  4. Who Has The Best Home Theatre Kit? Denon vs Bose
  5. Every Bit Of Defence Counts
  6. New Denon Home Theatre Makes Bose Look Like Yesterdays Technology
  7. Best Media Player On The Market
  8. At $1,499 The Aldi Medion 17-inch Notebook Is A Steal
  9. Affordable Noise Cancelling Headphones That Work
  10. B&W 600 Speaker Delivers Real Sound





HOME OFFICE / INDUSTRY

Dick's Boss: 'We Want to Be Accessories King'

By Oonagh Reidy | Friday | 28/09/2012

Dick Smith's new owners are aiming high as they want to be the No 1 retailer for accessories in Oz, its new CEO has declared.



Click to enlarge
Ex-Myer exec Nick Abboud, unveiled yeterday as Dick's new CEO, says he plans to grow the chain beyond its 325 stores, has already flagged a big move to online, and intends to double the number of products for sale on its site.

"I think we still want to be known as the most dominant location for buying your accessories, not walking in and not finding what you want," Abboud told News Ltd.

"We also see a massive opportunity in online, expanding the categories we're in and probably moving into some new categories we may not have in the stores."

Sydney based equity group Ancorage Capital Partners bought Dick Smith from Woolworths for just $20 million, in a deal announced yesterday.

The sale is not an indicator of "doom and gloom" in the electronics industry, according to Telsyte analyst, Sam Yip, but says competition is "fierce" with the rise of parallel imports and retailers online including internationally based players.

"The Dick Smith brand is very old" says Yip, "but still a well recognised one," he told Channel News.

"Dick Smith has brand equity with Australians but the challenge now is to leverage that brand locally, whether its via sponsorship" or other branding exercises.

"However, its only a matter of time before the market gets swamped with more pure online players, Kogans and catch of the day, offering cheap deals" he cautions.

"Retailers that get customer loyalty will be retained - its all about good customer service, price and delivery."

However, analysts say the move is a good thing for Woolies and rivals like JB H-Fi.

Woolies sold the retailer for a knock down pricetag of $20m but will also benefit if anchorage chooses to sell on the asset, in the future.

"We consider this to be a positive development for WOW given it removes distraction and eliminates the risk of future operating losses," says Deutsche Bank retail analyst Michael Simotas.

Referring to the the sale price as "relatively trivial.... the transaction removes a large operating lease obligation" for Woolies.

The sale is also "helpful" for Dick Smith rivals JB H-Fi and Harvey Norman, says Simotas.

"While a complete closure of the business would have been better in the longterm, this outcome reduces the risk of aggressive discounting in the near term(given the new owners' commitment to the store network)."

"It also increasing the likelihood that the solid gross margin performance FY13 YTD will continue."

Deutsche Bank have left their estimates for Woolworth unchange. 

Print this article
Email this story to a friend
Link this story:
Link this page to delicious Link this page to Digg Link this page to Furlit Link this page to News Vine Link this page to Reddit Link this page to Spurl Link this page to Yahoo My Web RSS this section





LATEST REVIEWS
New LG 65   New LG 65" Ultra High Definition TV, Complete With Pop Down Speakers: REVIEW
LG Australia has finally rolled out their 65" Ultra High Definition TV offering in Australia and what you get is a TV that delivers a quantum leap in TV technology and surprisingly a significantly improved sound system that is delivered from pop down speakers but the big question is whether it is worth $6,999.
Product Rating 4.5

Westfield To Split   Westfield To Split
Shopping giant to separate ANZ, international operation
Product Rating 0

REVIEW:Note 3 Is The Best There Is In Phablet Smartphones   REVIEW:Note 3 Is The Best There Is In Phablet Smartphones
If you are one of those people who love technology but struggle to manage the hundreds of apps and the endless capabilities that today's smartphones are capable of delivering then the new Samsung Note 3 is not for you.
Product Rating 5




SMARTHOUSE NEWSLETTER
Get the latest news
Subscribe today for your daily news of consumer electronic news...
Get the latest news

ADVERTISE
SmartHouse
reaches over 2 million consumers a year. Contact us today about special deals..

For more information ...

LATEST ISSUE
Smarthouse's
Apr/May 2011 issue

reviews the hot new iPhone attach device, the Zeppelin Air. And we look at what's going on in the tablet space...