Dick Smith 30-70% clearance sale today only

[r4ndll Avid PP Poster! Find all posts View Profile Close r4ndll]

They're overstocked and wanting to cut inventory

http://www.dicksmith.com.au/mammoth-clearance

[120D4D Avid PP Poster! Find all posts View Profile Close 120D4D]

I think its more to do with their financial troubles...

[r4ndll Avid PP Poster! Find all posts View Profile Close r4ndll]

Yup - they bought too much stuff and no one is buying it:

On Monday, Dick Smith abandoned its month-old profit guidance and wrote down the value of inventories by $60 million, or 20 per cent, a frank admission that some its stock was not worth what it paid several months ago, or that it bought too much.

"Frankly we bought inventory in anticipation of certain sales levels. We didn't achieve that sales level and that's part of what we're clearing up today," a company spokesman said on Monday


Read more: http://www.afr.com/business/retail/w...#ixzz3tDDpSgdA
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[fido666 Banned Find all posts View Profile Close fido666]

Now I know why my local Tricky Dicky store was so busy when I went in there yesterday, article I read said sale was probably going to start on Saturday so I didn't twig. It didn't look like everything was marked down when I went in, only certain clearance lines.