DICK SMITH COMPANY BACKGROUND 1

  • Category:
    Business
  • Document type:
    Essay
  • Level:
    Undergraduate
  • Page:
    1
  • Words:
    296

DICK SMITH COMPANY BACKGROUND

DICK SMITH COMPANY BACKGROUND

Dick Smith was one of Australia’s leading retailers of electronic equipment; the company had a total of 390 stores spread across Australia and New Zealand. Dick Smith was also named as one of Australia’s largest store by store footprints with the company’s store network comprising of 286 Dick Smith stores located in Australia, 30 David Jones Electronics stores which are in conjunction with Dick Smith stores within Australia, 9 Move stores located in New Zealand and 61 dick Smith stores in the same country.

Dick Smith has embraced an Omni-channel platform which it uses for its operations where it provides electronic equipment to a large consumer group of electronics equipment within New Zealand and Australian through physical stores, online shops, and mobile shops.

In the year 2012 Dick Smith Holdings introduced a new CEO, Nick Abboud, the company went ahead to strengthened its existing managerial team which was filled up by several new additions. In this same year, the company went forward to partner with Anchorage (Smith, D. 2006). Through this partnership, both companies set the ball rolling by implementing some changes within the company’s operation, strategic sales and the creation of cultural and customer initiatives within its company.

In the company’s share IPO in 2013, a single share went for $2.20 sale of Anchorage 62,996,907 in the year 2015 led to bouncing back of $2.22 a share from the previous year decline to $1.65. In the year 2015, the company recorded a sale increment of 7.5% to $1.32 billion with the sales in Australia shooting up by 10%.In the same year, the company’s net profit was also up by a 3.1%.

References

Smith, D. (2006). Dick Smith flyer. Australia: Dick Smith.. Dick Smith flyer. Australia: Dick Smith.