Dick Smith eyes $50m in sales from Sydney Airport deal

By Tony Kaye and AAP

Dick Smith has won a tender to open seven of its Move consumer electronics and accessories stores at Sydney Airport terminals from February 2015 and is hoping to generate up to $50 million of sales in the first year of operations.

Dick Smith managing director and CEO Nick Abboud said the initiative was anticipated to generate up to $50m in sales in the first full year, at modest capital expenditure and set up costs. "This opportunity is consistent with our strategy of achieving strong sales and profit growth through low capital intensity initiatives such as David Jones and Move," he said.

Heinemann — the world's fifth largest duty free operator with operations in more than 64 airports across 28 countries — Dick Smith will open the Move stores at the Sydney international and Virgin domestic terminals.

Read more here: Business Spectator


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