James Thompson

She had a few things to say about this idea that people aren't drinking as much at Investor Day, didn't she?

What did you make of that little glimpse into Casa de Herdlicker?

Yeah, well said.

I don't think so, Anthony.

No, I don't think so.

I mean, I think the nature of Dan Murphy's has changed a lot.

It used to be sort of stack them high and low prices.

You know, people did used to go to Dan Murphy's and buy cases of wine.

I mean, people go to Dan Murphy's and buy bottles of wine.

It just gets back to that different consumption pattern.

My sense of what Herdlicker's turnaround plan at Endeavour Group is that she wants to be the place that you go when you decide to buy booze.

If you decide that you're going to buy a bottle of wine, you're going to Dan Murphy's or BWS first.

And so I think her message was very much one around, we're not going to be out-competed here.

We are going to own this market.

This is our market.

We're not letting anyone else in.

And I think that's been a pretty successful strategy.

Very similar to what the CEOs, multiple CEOs of JB Hi-5 said.

When you think about buying a phone, watch, kettle, TV...

We want the first place you think of to be JB Hi-Fi.