EG moving away from OLI and towards Pizza Hut partnership, page-18

100%. This business was rubbish PRIOR to the impact of bushfires and COVID. It had NEVER run a profitable quarter, and group revenue was in DECLINE.

The only positive from this mornings' pronouncements is that someone (Tammie Phillips) has finally and publicly acknowledged what the more astute followers / commenters on this forum have iterated many times over the past years yet the true believers refuse to swallow. Maybe the true believers should triple-read her release and try to really understand the message in the key points;

1. That even after being in the role for seven months, the CEO believes there are still enormous obstacles to be overcome - i.e. the business is NOT out of the woods and won't be for some time.
2. The business model is broken, and has been for a long time.
3. The transport logistics are a ball-and-chain.
4. The menu offer has NOT been appealing to enough people, and still needs more work yet.
5. Many of OLI's customers may in fact be price-sensitive - i.e. the business needs to make an effort to appear to be better value.
6. The business has not been able to compete across all day-parts.
7. That there is real potential that customers may be p***** off about the sudden and unexplained store closures that sill persist to this day.

What hasn't been explicitly commented on but is still an issue, is WHY didn't OLI announce the store closures (which were not enforced by Government) to the ASX and shareholders when the decision was made? Was it so some unnamed key-person could sell some shares?

I fully expect that a decision will be made to close some of those stores permanently, and these will be the TRUE impairment costs that will hit OLI's financial reports.

Good to see Tammie acknowledge that this business has been and still is a bun-fight. Maybe it's time for JG and his crew to step aside completely and let the real talent take the reigns.

I'm just not sure that the business can afford to make the structural changes needed to survive, and there is no chance of a dividend or substantial SP rise in the short to medium term.