Sales dip hits DJs

Townsville Bulletin - - NEWS -

DE­PART­MENT store gi­ant David Jones is the lat­est re­tailer to call out fall­ing con­sumer con­fi­dence as a rea­son for a sales de­cline.

Wool­worths Hold­ings, the South African re­tailer that has owned the Aus­tralian de­part­ment store chain for three years, says David Jones’ com­pa­ra­ble sales fell 0.7 per cent in the year to June 25. It is the first time full- year sales have dropped un­der the new owner. David Jones’ over­all sales in­creased 1 per cent in Aus­tralian dol­lar terms, but the col­lapse of Dick Smith elec­tron­ics con­ces­sion stores last year dented growth by 1 per cent.

“While rel­e­vant mar­ket share has grown, sales growth slowed in the sec­ond half ( at DJs), as fall­ing con­sumer con­fi­dence re­sulted in lower foot­fall,” the com­pany said.

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