Sales at David Jones fell by about 3% in the three months to April and the department store is gearing up for a big end of financial year clearance.
David Jones announced today that its total sales in the quarter to April 28 were $399.8 million, down 2.9% on the previous corresponding period.
David Jones’ share price fell 1.8% to $2.21 as a result.
Chief executive Paul Zahra said sales in the first few weeks of the fourth quarter had followed the same trend as third-quarter sales.
”June and July are the major contributors to sales in (the fourth quarter) and, given our experience last year, we feel it is imperative that the promotional activity during this period be highly distinguishable from other promotional events throughout the year,” he said.