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by arethuza 3822 days ago
Woolworths were presumably happy to be rid of Dick Smith to the PE company - if they thought Dick Smith had a bright future then why did they sell it?

[Reminds me of Liars Poker and bonds...]
1 comments
threeseed 3822 days ago
Dick Smith could have been wildly profitable and they still would've sold it.

It's all to do with focus and Woolworth's core business is not consumer electronics. It's supermarkets. And their core business is being decimated by their competitors (Coles/Aldi) and they are at real risk of not having a long term future if they don't focus.

I am in the supermarket business so I know exactly how serious their situation is.

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eru 3822 days ago
> Dick Smith could have been wildly profitable and they still would've sold it.

Yes, but at a higher price. Or just spun it off and done an IPO for Dick Smith themselves.

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