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David Jones

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 is the oldest department store in the country. But it faces significant industry challenges.

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.

Qantas Loyalty CEO Andrew Glance, Friend of David Jones Megan Gale and David Jones CEO Scott Fyfe.

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

Mid-tier fashion group Country Road is owned by South Africa’s Woolworths Holdings.

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.

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December 2024

David Jones said its new app is helping to convert more online sales.

Retailers exhale as Black Friday stokes demand

From sneakers to Frank Green water bottles, shoppers opened their wallets for early Christmas deals.

October 2024

Nomura and Gordon Brothers are ready to walk into David Jones.

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

David Jones CEO Scott Fyfe is investing over$250 million in revamping the chain with owners Anchorage Capital.

‘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 Amplify hopes to boost revenue by $35 million a year in its new retail media division.

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

The accounts precede a bumper Boxing Day sale period, with the Australian Retailers Association predicting consumers will splurge $1.25 billion on December 26.

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 has had a slower start to the 2024 financial year.

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

Anchorage Capital Partners’ Beau Dixon (left) and David Jones CEO Scott Fyfe say shoppers have pulled back spending but still love luxury.

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

Department store David Jones recently signed up Latitude for consumer finance services.

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 chief executive Scott Fyfe (left) and Latitude managing director Ahmed Fahour at David Jones’ flagship store in Bourke Street, Melbourne.

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.

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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 chief executive John King (R) and chief financial officer Nigel Chadwick. The duo reported the highest profit since first half of 2014 on Thursday.

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.

Scott’s Refrigerated Logistics collapsed on Monday with debts owned to Gordon Brothers and ScotPac.

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.

Sales at David Jones are up nearly 14 per cent in the first eight weeks of calendar 2023.

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.

Original URL: https://www.afr.com/company/david-jones-limited-jbh