David Jones (ASX:DJS) is Australia’s second-largest department store retailer and fifth largest retailing company overall. The company operates a chain of over 35 retail stores and mainly sells upmarket brands of clothing, accessories and homewares. The stores also offer a wide product range of David Jones branded merchandise.
ASX 200 listed stock DJS today has reaffirmed its guidance for a substantial fall in first half year profit.
The company expects its net profit for the half year to December 31 to fall by 15-20% on last year’s first half profit of $105.7 million
David Jones also reported first quarter 2012 sales of $414.3 million, which was down 11.2% compared to the previous corresponding quarter.
CEO Paul Zahra said that trading seems to have improved in October and November 2011, but continues to be negative on last year due to a tough operating environment.