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But retail sales climb just 2.1%, overall.CEO Paul Zahra may be about to pack his bags, but DJs sales rose up 2.1% in Q1 2014, it said today.
David Jones reported sales of $424.2 million for the first quarter of fiscal 2014 – up 2.1% on Q1 ’13.
Online sales soared 1,000% in Q1 and made a “positive profit contribution” in the webstore’s first full year of trading, says Paul Zahra, CEO.
On a Like – for Like (LFL) basis sales fell 0.3% for the period 28 July – 26 October.
“Whilst it is still early days and we have to trade through the important second quarter, it is pleasing to see the Company return to positive sales growth this quarter,” Zahra said.
Fashion and Beauty categories continued to deliver growth whilst Electronics “remained challenging.”
Having passed the baton for its Electronics business to Dick Smith, DJ’s is working towards having electronics available on its webstore in time for Christmas, which may boost this long suffering category.
On a State – by – State basis, New South Wales and Victoria (including the new Highpoint and Malvern Central) were DJ’s strongest performing States.
Good progress continues to be made in implementing DJ’s Future Strategic Direction Plan, but DJ’s expects that trading will continue to be “challenging” throughout FY14.
The Company is “well placed” to capitalise on any sustainable strengthening in consumer sentiment and when it occurs, Zahra said.
DJs is to launch a “WOW” Christmas campaign – developed in collaboration with renowned filmmaker Quentin Jones, next week.
