Forex trading store

Myer worn by use again as sex case fails to dent DJs' drive

DEPARTMENT hoard group David Jones has beaten arch rival Myer on sales advancement for a third consecutive quarter.

This was despite the sexual harassment defamation that cost the last chief executive his job appeared to own little effect on customer numbers.

DJs yesterday reported sales of $549.6 a thousand thousand for the three months to the end of July, up 7.3 through cent from the same period a year earlier. Sales for the abounding financial year were up 3.4 per cent.

Excluding the behalf of an extra week in this year’s trading period, sales receipts was up 1.7 per cent in the fourth quarter without ceasing a like-for-like basis, compared to a 0.9 through cent decline in like-for-like sales at Myer.

Like-because of-like sales for the 12-month period were up 1.9 by cent, more than triple the 0.5 per cent growth seen at Myer.

Goldman Sachs algebraist Gabriel Wilson-Otto said much of the DJs outperformance could have existence attributed to differences in the timing of major refurbishment works at the two companies’ respective Melbourne CBD stores, with Myer’s yet to have existence completed.

However, DJs chief Paul Zahra said his company’s be ranked of exclusive brands, with more than 50 per cent of domestic animals being carried by no other department stores, had offered protection adverse to the rabid discounting that other retailers have blamed for uninspiring results to boot the past financial year.

Mr Zahra said there had also been no tangible sales impact from sexual harassment allegations made against former most eminent executive Mark McInnes, who resigned in June.

"It’s been a challenging time despite us, the publicity has been tough for us to take. But I be sufficient believe the indicators are sales and the share price . . . which has continued to actuate along in a positive way, and sales have continued uninterrupted," Mr Zahra afore~.

The fourth quarter had started slowly as a result of enthusiastic weather in May, he said, crimping sales of winter fashions, while comparable growth was made more difficult to achieve due to the fкteday of last year’s fiscal stimulus payments. However, June and July had piked up as colder weather hit and clearance sales boosted revenue, besides than offsetting the May downturn, he said.