New Smiths City chair pulls no punches about failing retailer at AGM

Wed, 05 Sep 2018

By Nikki Mandow Sept. 5 (BusinessDesk) - Chronic underinvestment, a lack of understanding of what customers want, and seriously deficient IT systems were just some of the criticisms laid by incoming Smiths City chair Alastair Kerr on his predecessors at the company’s annual general meeting today. Kerr said the furniture and appliance retailer’s shocking 2018 result - a $7.2 million after-tax loss in the year to April 2018, compared with a $2.4 million profit the previous year - came off the back of underinvestment in information systems a...

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