Sales dip hits DJs
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.