One of Australia’s department stores posts its strongest performance in 15 years.
The double-digit sales leap of 12.2% for David Jones is the department store’s best performance in fifteen years, when the retailer posted a 15.7% increase in sales for the 13 weeks to October with the help of a one-off sales bonanza, the introduction of the GST and the Sydney Olympics.
On a pro-forma comparable basis, David Jones sales, including concession sales, increased by 12.2%, while comparable store sales grew by 10.4% and net space grew by 1.5%.
Woolworths Holdings Limited group sales soared by 17.7% for the first 20 weeks of the 2016 financial year, over the comparable 20-week period in 2015. Excluding David Jones, group sales increased by 11.7%.