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Woolworths: Revamped Dick Smith stores drive sales growth

Woolworths: Revamped Dick Smith stores drive sales growth

New format Dick Smith stores are growing sales at a faster rate than older incarnations of the electronics retail chain

New format Dick Smith stores are growing at a faster rate than older incarnations of the electronics retail chain according to parent company, Woolworths.

In its first half-year sales report, Woolworths claimed a 2.3 per cent sales growth in its consumer electronics division. Comparable sales sat at 4.1 per cent.

Dick Smith recorded comparable sales of 6.5 per cent.

Total sales growth is lower than comparable sales growth due to closure of smaller unprofitable stores according to Woolworths. Figures exclude Dick Smith Powerhouse and Tandy shops.

The company also noted tightening consumer spending and price deflation of key products exacerbated by the strong Australian dollar had an impact on the results.

“The new format Dick Smith stores continue to grow sales at a greater rate than our older Dick Smith format stores,” Woolworths said in a statement.

Across A/NZ, 31 Dick Smith stores were launched during the recorded period. Twenty-eight Dick Smith and 10 Tandy stores closed. Five Tandy stores were rebranded as Dick Smith.

Total store numbers sit at 409.


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Tags growthwoolworthsdick smithtandy

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