David Jones sales see 5% slide

Due to internal disruptions.

David Jones sales declined by 5.3% and by 5.2% in comparable stores (in Australian dollar terms). Key concession brands also reduced tactical campaign activity in David Jones to reduce discounting.

Disruption caused by the refurbishments of the Bondi Junction Food Hall and the Elizabeth Street store, as well as from the implementation of the new inventory management system also impacted trade. Sales in the last six weeks have shown an improving trend.

Group sales for parent company, Woolworths Holdings South Africa, increased by 2.6% (or 3.1% in constant currency terms) for the first 20 weeks of the 2018 financial year, compared to the prior period.

A statement to the Johannesburg Stock Exchange said, β€œThe difficult trading conditions experienced in both South Africa and Australia during the last quarter of the previous financial year have continued into the current period. Sales in comparable stores declined by 2.4%. Trade was affected by the macro environment, which negatively impacted consumer sentiment and discretionary spend.”

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