David Jones reported a 4.1 per cent increase in total sales revenue for the third quarter of FY2014, to $407.2 million. Like for like sales also increased, up 2.4 per cent. Meanwhile, the publicly listed department store has received approval from the Foreign Investment Review Board to be sold to the South African Woolworths company.
“We are pleased to report that we continued to see sales growth momentum in 3Q14,” said DJs CEO Paul Zahra. We experienced our third consecutive quarter of Total Sales growth and our second consecutive quarter of LFL Sales growth this financial year.”
Zahra highlighted homewares, which includes the company’s appliance range, as a key category delivering sales growth during the quarter. Also of note was the company’s online performance: up 190 per cent in the quarter.
This will come as good news to incoming parent company Woolworths (RSA), which was notified this week that the Federal Government has no objection to its purchase of the retailer.