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David Jones declares Q4 sales growth of 5.4%

21
Sep '06
David Jones Limited (DJS) reported Sales Revenue of $454.6 million for the fourth quarter of the 2006 financial year (4Q06) being the period 30 April 2006 to 29 July 2006.

This represents 5.4 percent growth on 4Q05 ($431.4 million). Sales for the second half of FY06 grew 4.4 percent to $857.3 million, from $821.4 million in 2H05. Sales for the full year grew 1.2 percent on last year ($1819.9 million in FY06 versus $1799.1 million in FY05).

David Jones CEO Mr Mark McInnes said, “We were delighted with our 4Q06 Sales performance. Our Sales this quarter were stronger than expected and this was a key driver for the increased PAT growth guidance we announced on 27 July 2006.

“Our Sales this quarter was the result of a strong performance across all categories including our Womens, Mens and Childrens Apparel, Footwear, Accessories, Cosmetics, Homewares and Home Entertainment. We also performed well across all States, with Western Australia being the standout performer.

“Our strong Sales performance in 2H06 coupled with our success in reducing the Company's cost base, good management of our Inventory levels and Gross Margin levels at the top of our targeted range were all contributing factors to our 2H06 PAT growth guidance being increased to 24 percent-32 percent under AGAAP ($31 million - $33 million) compared to the Company's previous guidance of 5 percent.

“On an AIFRS basis, the equivalent PAT guidance for 2H06 is $24.5 million -$26.5 million,” Mr McInnes said.

David Jones is not only Australia's oldest department store, but the oldest department store in the world still trading under its original name. A short history of the company, from 1838 to the present, follows: if you're interested in one particular era or event, just click on the relevant date on the timeline, and it will take you straight there.

David Jones Limited


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