Tagged: David Jones

Investors give Myer recovery short shrift

“Myer needs both strong sales growth and significant gross margin expansion to maintain current profits,” said Morgan Stanley analyst Tom ­Kierath, who is forecasting a 2. 9 per cent increase in sales but a...

Thumbnail for 47560

Myer share slide turns into a rout

Meanwhile, Myer’s ambition to squeeze out a moderate sales and profit rise this year might represent a “bridge too far” for the retailer as intense competition, especially from foreign players, a lower Australian dollar,...

Thumbnail for 46761

Fortress Myer is looking defensive

Myer is now considered a potential takeover target - having tried and failed to merge with David Jones late last year. From the little we know about plans for David Jones, its new owners are...

Thumbnail for 46901

Myer shares slump: Brookes can’t gloss-over profit slide

By Ian Verrender The department store’s stock went into freefall in early trade, shedding 8. 7 per cent to $2. 25, after unveiling a 22. 6 per cent drop in earnings to $98. 5...

Thumbnail for 30856

DJ’s duds junked: Woolworths

The private label push was an integral part of Woolworths greater strategy to transform David Jones into a more profitable business that was more relevant to shoppers, and which would ultimately deliver its new owners...

Thumbnail for 30674

Time up for DJs’ ‘accidental CEO’

A few months back David Jones boss Paul Zahra applied to his soon-to-be new South African masters at Woolworths to retain his position running David Jones, Australia’s iconic up-market department store group. Indeed it...

Thumbnail for 30554

Will familiar faces bring fresh hope to DJs?

By Stephen Bartholomeusz The South African department store group paid $2. 2 billion for David Jones and was forced to outlay another $212 million to avert the threat that Solomon Lew would block its...

Thumbnail for 30584

Paul Zahra leaves David Jones after acquisition

By Elysse Morgan The high-profile chief executive of David Jones, Paul Zahra, has suddenly quit the company following its recent acquisition by South African firm Woolworths. Woolworths South Africa has run Country Road for...