David Jones to open three stores, refurbish another three

David Jones is planning to open three new stores and refurbish three more over the next two to three years.

The new stores will be opened in the Pacific Fair shopping centre in Qld, Macquarie in NSW and Whitford in WA from mid-2011 to early 2012.

David Jones said each of the new stores are in high value locations and have 25-year leases, which satisfy the requirements of its three-year strategic plan for new store benchmarks.

The three existing stores to be refurbished are located in Kotara (NSW), Marion (SA) and Karrinyup (WA).

The agreements do not require additional debt funding according to David Jones.