This Month
Why this former retail darling dumped its CBD flagship
Fifty-year-old heritage brand Country Road is battling through a tough trading backdrop and closure of its flagship Sydney city stores.
June
David Jones slides into loss as private equity owner works its debt
Anchorage Capital Partners says it is “working on a new capital structure” to support the business amid challenging conditions for department stores chains.
David Jones, Qantas loyalty tie-up will challenge Wirth’s Myer reboot
The country’s two department store chains are going head-to-head in the battle to leverage customer loyalty, both relaunching rewards programs within weeks.
February
Take me home, Country Road; eyes on Woolworths SA’s next move
The acquirer interest – understood to preliminary and include industry and high-level due diligence from at least two firms – comes at the back end of a troubling period for Country Road.
January
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.
December 2024
Retailers exhale as Black Friday stokes demand
From sneakers to Frank Green water bottles, shoppers opened their wallets for early Christmas deals.
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.
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.
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.
March 2024
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.
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.
September 2023
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.
August 2023
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.
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.
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.
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.
Myer working with undercover cops to stem theft
Retailers across Australia are dealing with increased rates of theft, including from organised crime groups.
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.
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.
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.