David Jones chief executive Scott Fyfe says a period of interest rate stability before the key Christmas trading will help promote spending and confidence, and continued investment in the upmarket chain will pay off with consumers into the future.

Although David Jones’ well-heeled shoppers might not be feeling the same crippling cost-of-living squeeze as younger customers and families, they are still cautious in spending and are seeking out more discounts than ever, Mr Fyfe told The Australian Financial Review.