Leading departmental store David Jones Limited (DJS) announced that it has increased its Profit after Tax(PAT) guidance to $77.5 million - $78.0 million (from the $72 million PAT guidance given at the time of the 3Q05 Sales announcement).
This represents an increase of approximately 20 percent over FY04's PAT result. In addition it expects Earnings before Interest and Tax to be approximately $109 million for FY05.
The Company today also reported 3.3 percent Sales growth for FY05 on a “like-for-like” basis comparing the same 52 calendar weeks in FY04 and FY05. In 4Q05 the Company experienced a 0.4 percent increase in Sales, cycling the high growth rate of 7.2 percent in 4Q04 (on a 'like-for-like' basis utilizing the same 13 calendar weeks in each year).
ASX AND MEDIA RELEASE
David Jones CEO Mark McInnes said, “The increased Profit after Tax Guidance is indicative of ability to manage business throughout the economic cycle, in particular in times of slower consumer spending, as was the case this financial year.
Gross Margins for FY05 are above the mid-point of our 36.5 percent - 36.9 percent target range, despite a highly competitive retail environment.
Stock has been well managed, with year-end stock position 5.5 percent lower than our position at the end of FY04.
Credit Card business has performed at the upper end of our 5-10 percent targeted growth range in the second half of FY05."
“Each of core categories including Womenswear, Cosmetics, Accessories, Footwear and Menswear have traded in line with our expectations. “Big Ticket” categories continue to experience a deflationary price environment and have cycled the strong growth experienced in 4Q04,” McInnes said.
20240620103915.png)
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
