David Jones Sales Down 8.1%, But Says Foot Traffic Is Improving
Sales at David Jones – which is owned by South Africa’s Woolworths Holdings – have fallen by 8.1% year-on-year in the last nine weeks of H2 FY20.
However, the retailer has said that this does mark an improvement on the previous eight-week period as restrictions began to ease in most parts of the country, resulting in a gradual improvement in foot traffic.
Online sales have also helped to balance out the fall at brick-and-mortar stores.
“The decline in store sales was partly mitigated by the significant shift to online, which saw the channel growing by 100.7% in H2, and contributing 18.4% to sales,” Woolworths Holdings stated.
The Elizabeth Street, which reopened in 4th April after its redevelopment works were completed, is also trading ahead of the broader David Jones store portfolio, despite the lower foot traffic being more pronounced in CBD locations.
Country Road Group, also owned by Woolworths Holdings, recorded a 20.9% year-on-year contraction in sales over the last nine weeks, though online sales were up 28.1% year-on-year.