Dick Smith falls out of ASX200
S&P Dow Jones made a statement on Friday regarding the Dick Smith’s future in the ASX200. It was confirmed that the company would be removed from the ASX200 after close of trade on the 18th of December.
Dick Smith has taken action after writing down the value of its inventories by 20% last week – worth roughly $60 million.
The company launched a massive discounting effort last week to raise some cash before Christmas time.
The company made the announcement on their Facebook page on Friday morning, revealing that selected products were now discounted by up to 70% in store.
While the advertised specials are currently only available in Dick Smith stores, the company’s website is advertising a 48hr sell-a-thon.
