David Jones earn­ings up

Townsville Bulletin - - Investor -

DEPART­MENT store owner David Jones Ltd has main­tained earn­ings guid­ance and im­proved prof­its de­spite flat rev­enues as dis­count­ing con­tin­ues in a ‘‘ com­pet­i­tive’’ and ‘‘ ag­gres­sive’’ con­sumer en­vi­ron­ment. The re­tailer re­ported an im­prove­ment in first half net profit of $ 105.7 mil­lion for the 26 weeks to Jan­uary 29, up 5.2 per cent from the prior cor­re­spond­ing pe­riod. The profit was partly due to a 6 per cent cut in labour costs and 25 per cent cut to mar­ket­ing ex­penses as sales de­clined. Rev­enue fell 0.2 per cent to $ 1.08 bil­lion.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.