If there was any doubt it's now official, Dick Smith is the new Myer.
And if history is any guide there will be more profit downgrades to come from the consumer electronics retailer. It's unlikely to stop at two, usually there are more once the process starts.
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Philip Baker writes on markets specialising in bonds, equity markets and currencies. Based in our Sydney newsroom, Phil is a markets columnist. Connect with Philip on Twitter. Email Philip at pbaker@fairfaxmedia.com.au
