This Month
Investors offered 9pc yield after discount DJs store deal
South Africa’s Woolworths has sold the last asset standing after its costly foray into upmarket Australian retailing. It’s also an opportunity for investors.
- Nick Lenaghan
December 2024
Retailers exhale as Black Friday stokes demand
From sneakers to Frank Green water bottles, shoppers opened their wallets for early Christmas deals.
- Carrie LaFrenz
October 2024
Two in, two out: Anchorage-backed David Jones reshuffles debt stack
Sources said the $190 million loan has been structured as an asset-backed lending facility that would see Soul Patts and Hilco exit David Jones’ debt stack.
- Sarah Thompson, Kanika Sood and Emma Rapaport
September 2024
Former David Jones boss on the ideal time to quit as CEO
Paul Zahra, the former chief executive of David Jones, says, as a general rule, there is a minimum and maximum amount of time the leader should be in the role.
- Sally Patten and Lap Phan
July 2024
‘We know over 500 customers’ are searching for it’: the big changes coming to DJs
Although shoppers remain cautious, Scott Fyfe and Anchorage Capital are hoping their $250 million revamp will keep consumers spending.
- Carrie LaFrenz
March 2024
- Exclusive
- Retail
David Jones pens new tech deal to power $35m fresh revenue
The Anchorage Capital-owned department store has signed up US advertising firm Criteo to help it boost revenue and profitability.
- Carrie LaFrenz and Sam Buckingham-Jones
December 2023
Anchorage snags David Jones at 75pc discount
Anchorage paid $92.5 million for the group in March, but financial accounts show the full value of the company and its assets was closer to $376 million.
- Lucas Baird
September 2023
- Updated
- Earnings season
Myer boss says it would be ‘very silly’ to recast strategy
John King’s comments come as Solomon Lew’s Premier Investments creeps up the company’s shareholder register.
- Updated
- Carrie LaFrenz
August 2023
- Exclusive
- Retail
David Jones CEO: luxury spending remains but second-half sales slow
The former owners of the upmarket chain made just $30 million-odd profit on the sale to Anchorage Capital Partners.
- Carrie LaFrenz
April 2023
David Jones in breach of Westfield leases as Scentre plays hard ball
The department store, which was acquired by Anchorage Capital Partners in a deal that closed last week, has 19 stores in the shopping centre giant’s properties.
- Sarah Thompson, Kanika Sood and Emma Rapaport
March 2023
David Jones says no delay on new Latitude credit card
David Jones chief executive Scott Fyfe says Latitude Financial’s massive data breach has not changed the start date for its new store credit card.
- Carrie LaFrenz
- Exclusive
- Retail
How Anchorage Capital plans to turn around fortunes of David Jones
The PE firm has big plans for the 185-year-old department store with a vision to create a near $1b online business – but it won’t be easy.
- Carrie LaFrenz
Myer working with undercover cops to stem theft
Retailers across Australia are dealing with increased rates of theft, including from organised crime groups.
- Carrie LaFrenz
Myer rewards long-suffering investors, shares surge18pc
The department store chain posted its best profit since 2014, providing investors with a 4¢ dividend and a 4¢ special dividend that sent its shares surging.
- Updated
- Carrie LaFrenz
Anchorage Capital sought last-minute funds from Coles
The grocery chain offered to push more goods through failed Scott’s Refrigerated Logistics trucks, but baulked at providing additional unsecured financing.
- Carrie LaFrenz
David Jones starts second half with bang: sales up 13.6pc
But the department store, being acquired by private equity group Anchorage Capital Partners, expects customers to pull back on spending in coming months.
- Carrie LaFrenz
February 2023
Solomon Lew nudges stake in Myer to 26pc
The department store will report half-year results next week, just as its major shareholder lifts its stake once again.
- Carrie LaFrenz
January 2023
David Jones picks Latitude as new credit card partner
The upmarket department store has penned a 10-year deal with the financial services company, ending its long-term relationship with Amex.
- Carrie LaFrenz
David Jones’ holiday sales inch up 2.3pc
The department store’s December half sales surged more than 30 per cent, but a more telling figure is the last six weeks through to Christmas Day.
- Carrie LaFrenz
December 2022
- Opinion
- Chanticleer
The three keys to Anchorage’s David Jones turnaround plan
Private equity firm Anchorage is backing an iconic brand and a leader it believes can turn David Jones around.
- Updated
- James Thomson