Dick Smith in store decline

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MikeB4
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#1442461 8-Dec-2015 08:25

This is a process of cutting down the stock on hand valuation to make a purchase price more attractive to a potential buyer. It would not surprise me to read that the Dick Smith chain has been sold. A possible buyer could be David Jones?

Here is a crazy notion, lets give peace a chance.

mattwnz

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#1442598 8-Dec-2015 12:16

andrew027:
loceff13:
mattwnz:
I did try putting through another order just now, and it now says the product isn't available for click and collect from the store I initially selected, but it is available for click and click from another store. But if that is the case, why don't they just move it between the stores, especially as they are the ones who made the error. It is poor management at the very least, resulting in poor customer service.

Because it's uneconomic to move it between stores(even in the same city) when they are already losing on it.

Which is probably why they charged me a $5 fee to ship the a6000 camera from Rotorua. I just hope they don't lock the doors for good before it gets here! Selfish, I know, but...

It's not selfish, you don't want to be out of pocket, and often when a store goes under, it is the consumer that is also out of pocket, such as with gift vouchers. I would pay by credit card so you have some protection

richms

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#1442614 8-Dec-2015 12:35

CC got a massive workout this week at DSE. Wouldnt want to pay cash incase one of the games is a duff and I have to get a refund and they wont oblige etc.

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eracode

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#1442615 8-Dec-2015 12:36

MikeB4: This is a process of cutting down the stock on hand valuation to make a purchase price more attractive to a potential buyer. It would not surprise me to read that the Dick Smith chain has been sold. A possible buyer could be David Jones?

It's a listed company - can really only be sold if a purchaser makes a stand in the market and/or announces a takeover bid. i.e. It can't be sold without the public shareholders' knowledge/acceptance of the share price offered.

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andrew027

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#1442625 8-Dec-2015 12:54

mattwnz:
andrew027:
loceff13:
mattwnz:
I did try putting through another order just now, and it now says the product isn't available for click and collect from the store I initially selected, but it is available for click and click from another store. But if that is the case, why don't they just move it between the stores, especially as they are the ones who made the error. It is poor management at the very least, resulting in poor customer service.

Because it's uneconomic to move it between stores(even in the same city) when they are already losing on it.

Which is probably why they charged me a $5 fee to ship the a6000 camera from Rotorua. I just hope they don't lock the doors for good before it gets here! Selfish, I know, but...

It's not selfish, you don't want to be out of pocket, and often when a store goes under, it is the consumer that is also out of pocket, such as with gift vouchers. I would pay by credit card so you have some protection

Payment definitely by credit card, but much as I want this camera (and was close to paying more than twice as much for it) it seems less important than a few hundred people being laid off just before Christmas.

Meanwhile, at Dick Smith's in Australia, as well as losing money they're losing sympathy.

MikeB4

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#1442669 8-Dec-2015 13:18

An interesting thing is, in the fiscal year ended 2014 DSE's total assets were up as were revenue, net income and equity.

Here is a crazy notion, lets give peace a chance.

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richms

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#1442680 8-Dec-2015 13:27

Those figures are provided by accountants. One step below lawyers.

Richard rich.ms

tripp

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#1442688 8-Dec-2015 13:32

richms: Those figures are provided by accountants. One step below lawyers.

I would say more 1 step to the side :P

mattwnz

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#1442690 8-Dec-2015 13:34

andrew027:
Payment definitely by credit card, but much as I want this camera (and was close to paying more than twice as much for it) it seems less important than a few hundred people being laid off just before Christmas.

Meanwhile, at Dick Smith's in Australia, as well as losing money they're losing sympathy.

They would be retail jobs, so not exactly a career, and many of the staff are probably students who are training to be something else. So their skills will be transferable to other stores easily enough. But it goes with the type of job, as retail is a tough business, and goes through cycles. But it maybe brought up by another company, who may keep it running.

MikeB4

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#1442691 8-Dec-2015 13:34

richms: Those figures are provided by accountants. One step below lawyers.

And subject to audit

Here is a crazy notion, lets give peace a chance.

Fred99

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#1442729 8-Dec-2015 14:06

eracode:
MikeB4: This is a process of cutting down the stock on hand valuation to make a purchase price more attractive to a potential buyer. It would not surprise me to read that the Dick Smith chain has been sold. A possible buyer could be David Jones?

It's a listed company - can really only be sold if a purchaser makes a stand in the market and/or announces a takeover bid. i.e. It can't be sold without the public shareholders' knowledge/acceptance of the share price offered.

A lot could be negotiated behind closed doors before it got to that stage.
Very scary to any potential buyer would be the nature of leases in place with the Westfields of this world - unless the potential buyer had a lot of clout as anchor tenants.

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MikeB4

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#1442733 8-Dec-2015 14:12

eracode:
MikeB4: This is a process of cutting down the stock on hand valuation to make a purchase price more attractive to a potential buyer. It would not surprise me to read that the Dick Smith chain has been sold. A possible buyer could be David Jones?

It's a listed company - can really only be sold if a purchaser makes a stand in the market and/or announces a takeover bid. i.e. It can't be sold without the public shareholders' knowledge/acceptance of the share price offered.

Anchorage were at one point 98% stock holders, that will of course be diluted by the float. I am not sure what percentage was floated however Anchorage hold a large percentage, that could be sold in an off market deal, the balance then picked up on the market.Off course this would have to be made
public and the Exchange advised prior.

Here is a crazy notion, lets give peace a chance.

Fred99

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#1442796 8-Dec-2015 14:37

MikeB4:
eracode:
MikeB4: This is a process of cutting down the stock on hand valuation to make a purchase price more attractive to a potential buyer. It would not surprise me to read that the Dick Smith chain has been sold. A possible buyer could be David Jones?

It's a listed company - can really only be sold if a purchaser makes a stand in the market and/or announces a takeover bid. i.e. It can't be sold without the public shareholders' knowledge/acceptance of the share price offered.

Anchorage were at one point 98% stock holders, that will of course be diluted by the float. I am not sure what percentage was floated however Anchorage hold a large percentage, that could be sold in an off market deal, the balance then picked up on the market.Off course this would have to be made
public and the Exchange advised prior.

Dick Smith was bought from Woolworths by Anchorage Partners in late 2012 for A$74 million and floated a year later with a valuation of A$345 million. About a year after that Anchorage sold its remaining 20 per cent in the company.

One would hope that ASIC is taking a long hard look at what happened there.

Jaxson

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#1443218 8-Dec-2015 23:26

Are there any DSE employees viewing this thread?

I'm coming in late, but I'm keen to know if there are any a6000 cameras still in DSE NZ stock somewhere.

Feel free to PM me if you are able to help. Thanks.

MikeB4

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#1443256 9-Dec-2015 07:09

Fred99:
MikeB4:
eracode:
MikeB4: This is a process of cutting down the stock on hand valuation to make a purchase price more attractive to a potential buyer. It would not surprise me to read that the Dick Smith chain has been sold. A possible buyer could be David Jones?

It's a listed company - can really only be sold if a purchaser makes a stand in the market and/or announces a takeover bid. i.e. It can't be sold without the public shareholders' knowledge/acceptance of the share price offered.

Anchorage were at one point 98% stock holders, that will of course be diluted by the float. I am not sure what percentage was floated however Anchorage hold a large percentage, that could be sold in an off market deal, the balance then picked up on the market.Off course this would have to be made
public and the Exchange advised prior.

Dick Smith was bought from Woolworths by Anchorage Partners in late 2012 for A$74 million and floated a year later with a valuation of A$345 million. About a year after that Anchorage sold its remaining 20 per cent in the company.

One would hope that ASIC is taking a long hard look at what happened there.

Do you have a link etc really Anchorages current holdings in DSE. I could not find that info except that they are still listed as the parent and majority.

Something seems screwy here.

Here is a crazy notion, lets give peace a chance.

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