David Jones sales up 2.2% in 1Q
November 4, 2009
David Jones Limited (DJS) reported sales revenue of $452.1 million for the period 26 July to 24 October, up 2.2% from total sales of $442.3 million in the equivalent 2008 quarter. The retailer said that there were positive factors from the first quarter trading which augurs well for the Christmas trading season.
The retailer reported like-for-like sales growth was 0.8%. However David Jones noted that excluding the results from the Bourke Street, Melbourne store which is being redeveloped, like-for-like sales grew at 1.9%.
CEO Mark McInnes said the outlook was promising.
“Our better than expected trading in 1Q10 is a good sign for our business as we enter the all important Christmas trading period, especially given we will be cycling the worst trading conditions (2Q09) we have experienced in more than 20 years,” Mr McInnes said.
“Added to this we look forward to the completion of Stage 1 of our new flagship Bourke Street store in time for Christmas trading.”
However Mr McInnes declined predicting the company’s first quarter profit.
At 1020 AEDT, David Jones shares were trading down 12c to $5.30.
The retailer reported like-for-like sales growth was 0.8%. However David Jones noted that excluding the results from the Bourke Street, Melbourne store which is being redeveloped, like-for-like sales grew at 1.9%.
CEO Mark McInnes said the outlook was promising.
“Our better than expected trading in 1Q10 is a good sign for our business as we enter the all important Christmas trading period, especially given we will be cycling the worst trading conditions (2Q09) we have experienced in more than 20 years,” Mr McInnes said.
“Added to this we look forward to the completion of Stage 1 of our new flagship Bourke Street store in time for Christmas trading.”
However Mr McInnes declined predicting the company’s first quarter profit.
At 1020 AEDT, David Jones shares were trading down 12c to $5.30.
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