Now this makes for great listening, and it's from the ex-ceo Roger Corman
Dan Murphy’s has ‘completely lost its way’: Former Woolies CEO (msn.com)
Roger makes an excellent opening comment: the share price reflects the future, not the past.
The other main highlight:
Dan Murphey's has lost it's strategic way: its strategy is all wrong. The key differentiation strategy the enabled Dan Murphy to profitably grow has been lost.
Retailing is cut throat. Successful long term retails must have key strategic successful differentiation strategies.
Dan Murphey's was:
buy low, lower than its competitors, and then sell low. Keep overheads minimal (again keep overheads less than its competitors).
In return Dan Murphey achieved volume, volume per store better than any of its competitors. That volume enabled Dan Murphey to push down pricing with its suppliers (but also achieve longer credit terms, so effectively Dan Murphey was not 'paying for its stock', the inventory was moved during the credit terms, so no holding cost of inventory.
Pubs:
He thinks Bruce can turn things around for the Pub division, so long as he doesn't get excessive corporate red tape and bureaucracy.
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