David Jones CEO resigns

David Thomas has resigned as chief executive of David Jones citing personal reasons, the department store announced today.

While a replacement will be announced in due course, Woolworths Holdings Limited group chief executive Ian Moir will work directly with the David Jones management team in the interim.

Thomas had been in the position for almost 18 months.

The department store has suffered a difficult few years, most recently witnessing sales slow in the lead-up to the Christmas period, with consumers hit hard by the increased cost of living and stagnant wage growth.

Overall sales increased by 1 per cent during the 26 weeks ending 23 December 2018, and saw “sales performance weakening in line with the rest of the retail market in the final weeks leading up to Christmas.”

Comparable store sales grew by 0.9 per cent, with any growth from new stores dragged down by the refurbishment of the Elizabeth Street flagship.

However, the business’ online sales grew 46.1 per cent over the period, contributing 7.7 per cent of total sales.

Comments

Comment Manually

I have read and agree to the Terms and Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Inside Retail Polls

What is your business doing to become more sustainable?
Vote

Twitter

Australian mergers and acquisitions by private equity firms made up a third of the major transactions in 2018, acco… https://t.co/DZ0pEdOXg0

4 hours ago

Despite declining house prices and modest wage growth, Australian consumers have pushed spending growth to a 14 mon… https://t.co/Mgg6QeqrvC

6 days ago

Australians are predicted to spend $3.4 billion across #retail this #Easter, according to the @OZRetailershttps://t.co/X9ShvwYfZt

1 week ago
x

SUBSCRIBE
FREE NEWS BRIEFS Get breaking news delivered