Home / Knowledge / News / Apparel/Garments / David Jones' Q3 FY'13 sales fall 2.2%
David Jones' Q3 FY'13 sales fall 2.2%
29
May '13
David Jones Limited (DJS) reported Total Sales Revenue of $391.1 million for the third quarter of the 2013 financial year being the period 27 January 2013 to 27 April 2013 (3Q13).

Highlights:
- 3Q13 Total Sales down 2.2% (3Q13: $391.1 million vs. 3Q12: $399.8 million).
- 3Q13 LFL Sales down 3.4% (3Q13: $386.2 million vs. 3Q12: $399.8million).
- The Company reduced its discounting program throughout the quarter.
- Progress being made in exiting and consolidating low productivity categories.
- Investment in customer service has resulted in an improvement in the Company’s service metrics.
- Costs continue to be tightly managed.

This represents a Total Sales decline of 2.2% on 3Q12 (3Q12: $399.8 million).On a Like-for Like (LFL) basis Sales were down 3.4%. The Company's LFL Sales this quarter include the Canberra Centre (ACT) store which was disrupted due to refurbishment and excludes the new Highpoint (Vic) store which opened in mid March 2013.

David Jones CEO and Managing Director Mr Paul Zahra said, “In the current environment of cautious consumer sentiment we made a deliberate decision to continue to focus on the areas of our business that we can control namely; GP Margins, Inventory and Costs.

“The unseasonably warm start to winter impacted our business in particular Womenswear.

“Our high margin Beauty, Menswear and Childrenswear categories delivered growth for the quarter, however our overall sales performance was once again adversely impacted by our Home categories, in particular Electronics which continues to be subject to industry and price pressures.

“Despite the warm start to the season our Winter Inventory was well managed and is at lower levels than the previous corresponding period.

“We continued our strategy of reducing discounting throughout 3Q13 notwithstanding aggressive promotional activity in the market. Most notably our mid-season sale (Invitation Event) was reduced by one full week and we removed our $10 million Floor Stock Clearance event.

“Our view is that the ongoing increase in the depth and breadth of discounting that we are seeing in the market is not sustainable. This is a view shared by many brands and as a result we have seen an increase in the number of brands looking to convert their distribution arrangements to department store exclusive agreements with David Jones. Recent additions to our portfolio that fall into this category include Givenchy, Pucci, Joseph, Finders Keepers, Gumboots and Sunseeker.

Having said this, in the short term we expect to see heavy discounting as other retailers attempt to address excess winter inventory issues. Whilst we do not propose to match this expected discounting activity our key June Clearance will need to be competitive and we will need to maintain our marketing share of voice,” Mr Zahra said.

David Jones


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...

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...

Strong exports, consumption fuel growth in Asia: ADB

Textiles | On 16th Dec 2017

Strong exports, consumption fuel growth in Asia: ADB

Economic expansion in developing Asia is likely to accelerate to 6...

Interviews View All

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Urs Stalder
Sanitized AG

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

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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