Department store David Jones is performing well for its new foreign owners, opening a strong sales lead over arch rival Myer.
South Africa's Woolworths Holdings, which took control of the iconic department store business in August last year, says David Jones lifted total sales 6.4 per cent during 2014/15.
More importantly, same store sales, which excludes the impact of store openings and refurbishments, was up 3.7 per cent.
That's easily ahead of the 2.4 per cent total year-on-year sales growth and 1.7 per cent same-store sales growth Myer reported during its third quarter of trading.
Myer, which is yet to release its full year sales result, downgraded its profit guidance in March following a disappointing first half that also resulted in the departure of chief executive Bernie Brookes.
His replacement, Richard Umbers admitted the retailer had lost relevance with customers and announced an overhaul of the business, which has already resulted in the closure of one major Sydney department store.
Meanwhile, Woolworths Holdings has also announced that its other major Australian business, Country Road, lifted total sales 11.5 per cent during 2014/15, with comparable sales up 4.7 per cent.
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