Part of the rebranding from 'Dick Smith Electronics' to 'Dick Smith' is to remove the focus from the electronics side of the business that likely wasn't serving as much of a moneymaker. Any stores that remain in the old 'Dick Smith Electronics' livery are probably slated for a format change in due course.
I would expect the move away from component-level electronics was driven by profitability; there's probably not a lot in it, relative to the cost of maintaining such a large catalogue of components that frequently sit on the shelves for years without being touched. Jaycar can do it more efficiently because there are less of them.
Of course, with DS having made the decision they did - to pull out of supporting the electronics hobbiest - they also lost the loyalty of their not insignificant number of regular customers who would frequently forage for the components they needed. I'm a ham radio operator and I can tell you that there's been plenty of negative comments made over the last several years - and indeed the moves in this direction started way back in the late 90s when DSE started 'quitting' in their Amateur Radio stock lines, in favour of more 'consumer' stuff (Scanners, Citizens Band, Marine). Even those are far less significant now than they were.
So make the most of any of your local DSEs that're still carrying the electronics stuff, because the clock is ticking. Unfortunately Dick Smith have lost a lot of following that they had by way of their reliability and accessibility - a strong network of branches and franchise distributors nationwide providing for consistent and reliable availability of those bits-and-pieces which meant that even the premium prices one paid were compensated for, at least in part.
Today Dick Smith is just one of the many consumer electronic stores; Noel Leeming, Harvey Norman and their ilk are in the same space, Dick Smith carry a 'different' variety of related stuffs and this still makes them somewhat useful, but I definately visit them much less.
Oh, and Woolworths have owned Dick Smith or at least the majority of it, for a rather long time. Years ago as a DSE employee I was gifted 75 shares in WOW (Woolworths Australia) as part of an employee scheme to celebrate Woolworths 75th birthday. I flicked my last holding of those shares off about a year ago to pay for some dentistry :/ But FWIW i'm glad I bailed when I did, because the company has no loyalty left on my part - and I enjoyed my time working for them (96-00).