Bargain hunting at The Reject Shop

With the price down 40% in two months, Graham Witcomb goes looking for a bargain and comes up trumps.

With an unblemished growth history and a well respected chief executive, just two months ago The Reject Shop looked like the perfect retailing investment, especially to those that bought in at the $2 listing price in 2004.

The latest interim result put paid to that reputation. Same-store-sales growth stalled, competition intensified, a falling Aussie dollar hit margins and an accelerated store roll-out program caused net profit to fall by 15%.

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