Business
David Jones boss admits it has ‘too many stores’ as losses deepen – Sydney Morning Herald
The head of the struggling department store is stepping up plans to shut stores across Australia over the next two years as losses are deepening in the COVID crisis.
“We’ve got to get there much quicker, so we have to accelerate our way through that. We have been engaged with all 12 of our landlords, and we’ve been having very good discussions and we’re making good progress,” he said.
Mr Bagattini’s comments follow a tough year for David Jones, with the department store plunging to an adjusted operating loss of $33 million, a massive decline from last year’s $37 million profit. Total sales fell 6.4 per cent to $2.06 billion, and comparable sales declined 6….
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