David Jones Slash 120 Jobs
Premium department store, David Jones, has reportedly axed 120 jobs from its head office and store network, further cutting costs amid tough retail conditions.
Reported by The Australian, the retailer is slashing around 30 jobs from its Melbourne head office, with another 90 cut from its regional and suburban stores.
The news comes as David Jones further accelerates its online and digital presence, recently launching its new ‘point-free’ loyalty program in partnership with American Express.
Flagship store jobs will reportedly not be cut, with many affected HQ jobs involved with store roll-outs and refurbishments.
The company claims jobs losses will allow David Jones to continue in-store and online investment – pledging customer service will not be hurt.
The retailer’s signature Elizabeth Street store in Sydney CBD is still amid a $400 million refurbishment, which management claims has impaired earnings.
The store is scheduled for completion in Q3FY20.
The news comes after David Jones reported its third straight year of declining same store sales, citing a “challenging” retail landscape.
Owned by South African based Woolworths Holdings, the luxury retailer notched a 0.8% drop in total sales for the year ending June 30.