New ownership ups David Jones sales

davidjonesDavid Jones’ full year sales, including concession sales, increased by 6.4 per cent in Australian dollar terms under its new South African ownership.

In a trading update published in Johannesburg, David Jones’ parent company Woolworths reported its group sales increased by 54.9 per cent for the 52 weeks of the 2015 financial year over the comparable 52-week period in 2014. Excluding the impact of David Jones, group sales grew 12 per cent.

David Jones sales are included from the date of the acquisition, August 1 2014. The company said David Jones sales in comparable stores grew 3.7 per cent and net space grew 1.3 per cent over the period.

Country Road Group sales in Australia and New Zealand increased by 11.5 per cent, in Australian dollar terms. Sales in comparable stores grew 4.7 per cent and net space grew 23.1 per cent, 17 per cent of which was space reallocated from other brands in David Jones during the last quarter. Country Road Group’s South African sales are included in the Woolworths Clothing figures.

Woolworths end of year results for the 52-week period to June 28 2015 are scheduled to be announced on August 27 2015.

David Jones is to establish its first department store in NZ operating out of Kirkcaldie & Stains’ Lambton Quay premises from mid-2016.

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