A rare admission of Woolworths failure

There'll be some pain associated with Woolworths' exit from the electronic goods category, both for the group itself and for the old rental formula relied on by retail landlords.

The restructuring of the Australian retail sector is gathering pace, with the not unexpected announcement from Woolworths today that it had decided to offload its underperforming and under pressure consumer electronics business in Australasia once it has performed radical and expensive surgery on the network of Dick Smith stores.

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