David Jones posts best sales growth in 15 years

 In Australia, NewZealand
Sales at David Jones jumped 12.2 per cent in the first 20 weeks of the financial year —  the best rate of growth in 15 years — as the upmarket department store chain took share from arch rival Myer and specialty retailers.
The retailer’s strategy to introduce new brands, tweak its marketing and boost service levels in stores has paid off in spades, with same-store sales rising 10.4 per cent on a pro forma basis in Australian dollar terms, according to figures released overnight by  David Jones’ South African owner, Woolworths.
The strong growth in fiscal 2016 followed sales growth of 6.4 per cent in the year ended June, and 10.7 per cent growth in the second half of 2015, underpinning a 29 per cent increase in earnings to $161 million. Sydney Morning Herald – Read more…

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