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News Flash
David Jones experiences a challenging second quarter
04 Mar '11
4 min read
“We closed our Toombul (Qld) and Newcastle (NSW) stores on 29 January 2011 and are on track to transfer the EBIT Contribution of those stores to our nearby Chermside (Qld) and newly refurbished Kotara (NSW) stores, respectively.”
“All of these initiatives in conjunction with our tight management of GP Margins, Inventory and Costs have led us to reaffirm our 2H11 PAT Growth Guidance of 5% to 10% keeping in mind that if consumer shopping behaviour continues as per 1H11 we expect our PAT growth will be at the lower end of our guidance. We also reaffirm our FY12 PAT Growth Guidance of 5% to 10% (although based on the current environment we expect it to be at the lower end) subject to there being no further deterioration in consumer sentiment and no adverse change in the macro economic environment,” Mr Zahra said.
“All of these initiatives in conjunction with our tight management of GP Margins, Inventory and Costs have led us to reaffirm our 2H11 PAT Growth Guidance of 5% to 10% keeping in mind that if consumer shopping behaviour continues as per 1H11 we expect our PAT growth will be at the lower end of our guidance. We also reaffirm our FY12 PAT Growth Guidance of 5% to 10% (although based on the current environment we expect it to be at the lower end) subject to there being no further deterioration in consumer sentiment and no adverse change in the macro economic environment,” Mr Zahra said.
David Jones Limited (DJS)
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