Home / Knowledge / News / Apparel/Garments / Retail outlook remains difficult, challenging – DJs
Retail outlook remains difficult, challenging – DJs
20
Aug '11
Following its Sales and Profit after Tax Guidance (PAT) for the second half of the 2011 financial year (2H11) on 13 July 2011 David Jones Limited (DJS) announced its 4Q11 Sales results
for the period 1 May 2011 to 30 July 2011.

The Company reported 4Q11 Total Sales of $462.1 million a decline of 10% on a Like-for-Like (LFL) Calendar Adjusted Weeks basis and a decline of 10.3% on a Total Sales Calendar
Adjusted Weeks basis (4Q10: $515.3 million) (13 weeks vs. 13 weeks). On a Statutory Basis the decline in 4Q11 was 15.9% ($462.1 million in 4Q11 vs $549.6 million in 4Q10) on Total
Sales basis and down 15.7% on an LFL sales basis (13 weeks vs. 14 weeks).

In terms of the full year, Total Sales for FY11 were $1.958 billion a decline of 3.2% on an LFL Calendar Adjusted Weeks basis and down 3.4% on a Total Sales Calendar Adjusted Weeks
Basis (52 weeks vs. 52 weeks). On a Statutory Basis the Total FY11 Sales were down 4.7% and LFL Sales were down 4.5% (52 weeks vs. 53 weeks). Full details of the Company's Sales
performance are set out in Annexure A.

Sales performance trends were similar across all States, categories and demographies although our Home Entertainment & Electrical category was hardest hit by the impact of deflation.

David Jones CEO Paul Zahra said, ”Trading conditions continue to be very challenging in the early days of 1Q12. In the face of this environment we are continuing to manage our Costs
tightly and we are actively working and making progress in managing our Inventory position.

Trading Environment and Outlook
The Company reaffirms its Profit after Tax Guidance for FY11 provided on 13 July 2011 of -0.5% to -2.0%.

At the time that this guidance was provided the Company also provided 1H12 PAT Guidance of -15% to -20%. Whilst this guidance was predicated on negative Sales growth in 1H12 it was
based on the assumption that there would be an improvement on the 10.3% decline in sales experienced in 4Q11. It is still early days, however with the turmoil in the market place and the continuing decline in consumer confidence, to date 1Q12 has shown no improvement from trading in 4Q11.

Mr Zahra said, “We are facing an extremely difficult trading environment. Having said that we have a strong business model and a clear business strategy, we have a strong balance sheet,
good cashflows, the best national and international brand portfolio in Australia.”

David Jones Limited


Must ReadView All

Indian govt approves special package for leather, footwear

Textiles | On 16th Dec 2017

Indian govt approves special package for leather, footwear

The Union Cabinet chaired by PM Narendra Modi has approved a special...

EU parliament resolution calls for Cambodia sanctions

Apparel/Garments | On 16th Dec 2017

EU parliament resolution calls for Cambodia sanctions

Following the ongoing crackdown in Cambodia on the opposition and...

Affordable prices to be hit if US pulls out of NAFTA: NRF

Apparel/Garments | On 16th Dec 2017

Affordable prices to be hit if US pulls out of NAFTA: NRF

US retailers’ ability to offer consumers quality products at...

Interviews View All

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search