Retail in Asia

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DJs hopes worst is over as sales show signs of recovery

The David CEO, Paul Zahra, said he was pleased sales had moved in a positive direction this year, after the upmarket department store group posted an 11 percent drop in revenue in the first quarter.

Unveiling the company’s second-quarter and first-half sales performance on Thursday, Zahra said sales had continued to recover during January and into the new season but like-for-like sales remained in negative territory.

The Australian second largest department store chain reported total sales of AUD598,5 million (USD641.6m) for the second quarter, a decline of 3.1 percent and a 2.4 percent fall in same-store sales. For the half, sales were AUD1.01 billion, down 6.6 percent.