Ann: Appendix 4E and Annual Financial Report-SRF.AX, page-21

The thing is this is how their business has NOT worked

If Coles' business model was that you buy sour cream for $78 it might be a better analogy both ways

If they want to just be a reseller than yeah, go for cash and just move inventory at any margin. but you are not establishing any brand with your customers

All SS is now is an on line DFO with zero cred. It moves discounted inventory. People don't go back to a site they have no affinity with. Does anyone still go to catch of the day more than twice a month?

I'm over most of the Retailers that grab headlines anyway. They look fit and smart, but usually fail to deliver. Blaming unseasonal weather or greeks or brexits

Myer and DJ, dinosaurs so full of their own arrogance and sycophants they couldn't see the writing on the wall the last 5 years

Coles, arrogant, too many lines, stores too large, overpriced

Woolworths, proven to be led by incompetent morons, Case in point pouring billions into Masters because it focussed grouped well with North Shore Mums

Neither can see the obvious Aldi.

As it turned out, SS were all incompetent from top to bottom. How many cap raisings before the market says no more? Magicseaweed? Stab?

Rant over. Surfstitch will be in receivership within 6 months because no one will be dumb enough to fund another cap raise. I think the only thing of value will be its database and mailing list which are worth maybe $5m to $10m.

Maybe it owns its own factory too. But then debt