Date: August 24 2012
DAVID Jones has recorded its seventh consecutive quarter of retreating sales as shoppers remain reluctant to spend on designer clothing, accessories and make-up. But the upmarket retailer is trying to remain optimistic and is aiming for positive sales this quarter.
Chief executive Paul Zahra yesterday also reaffirmed profit guidance of a 35 per cent to 40 per cent decline in earnings for the 2012 financial year.
The fashion retailer said total sales for the fourth quarter were down 1.3 per cent to $455.8 million, with like-for-like store sales also down 1.3 per cent for the period. Second half sales were 2.2 per cent weaker on a comparable store basis while for the full 2011-12 financial year total sales were down 4.6 per cent and comparable sales 4.3 per cent down.
Mr Zahra said the business had detected improving sales month to month during the fourth quarter, with David Jones aiming for positive sales in the first quarter of 2012-13.
''That's our aim, it would be great to be in that position, of course; we are fully focused as a team to get back to positive growth,'' he said.
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