DJ’s e-Sales Roar 190%, After Takeover
David Jones sales hike 4.1% to $407.2 million for the third quarter, weeks after the $2.15 billion takeover proposal by South African retailer Woolworths.
Despite a later Easter there was no impact on the quarter’s sales between the period 26 January – 26 April, which marked the third consecutive quarter of sales growth.
Compare this to Myer’s Q3 sales which fell almost one percent to $646.5 million, weeks after David Jones spurned its merger offer in favour of the South African’s proposal.
DJ’s online sales soared 190% compared to 3Q13.
Like-for-Like (LFL) sales grew 2.4% although excluding the Electronics dept now operated by Dick Smith, comparable sales were higher – up 3% – indicating the dept. dragged growth.
Womenswear, Menswear, Beauty, Accessories and Homewares were top performers during the quarter.
David Jones CEO Paul Zahra said, “we are pleased to report that we continued to see sales growth momentum in 3Q14. We experienced our third consecutive quarter of total sales growth and our second consecutive quarter of LFL sales growth this financial year.”
All states delivered sales growth with the exception of South Australia and Queensland, which were adversely impacted by store refurbishments.