sales slump for top australian retailer
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Sales slump for top Australian retailer

Arab Today, arab today

Arab Today, arab today Sales slump for top Australian retailer

Sydney - AFP

Top-end Australian department store David Jones reported a 4.7 percent slump in full-year sales Thursday and warned of "extremely difficult" conditions as consumer gloom squeezes retailers. The retail giant reported sales of Aus$1.96 billion (US$1.99 billion) for the 12 months to July 30, almost five percent lower than the previous year, with a company-wide slump led by home entertainment and electrical goods. Sales dropped 15.9 percent in the final quarter to Aus$462.1 million as consumer confidence collapsed and the Australian dollar surged to new highs against the greenback, boosting online shopping and overseas travel. "Trading conditions continue to be very challenging in the early days of 1Q12," said chief executive Paul Zahra, referring to the three months to the end of September 2011. "In the face of this environment we are continuing to manage our costs tightly and we are actively working and making progress in managing our inventory position." The company restated earlier forecasts of a 0.5-2.0 percent decline in full-year profit, but warned that conditions were looking increasingly dire. "It is still early days, however, with the turmoil in the marketplace and the continuing decline in consumer confidence, to date 1Q12 has shown no improvement from trading in 4Q11," it said. David Jones shares fell 6.79 percent on the sales report to Aus$2.61 on a broadly lower market. Consumer sentiment is at its grimmest since the global financial crisis and had plunged sharply even before the latest market rout, linked to Standard and Poor's unprecedented downgrade of the United States and debt woes in Europe. Retail sales fell 0.1 percent across Australia in June, according to the latest available figures, deepening the 0.6 percent slide seen in May.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

sales slump for top australian retailer sales slump for top australian retailer

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

sales slump for top australian retailer sales slump for top australian retailer

 



GMT 12:48 2016 Sunday ,27 November

Cilic, Dodig push Croatia to brink of Davis Cup

GMT 05:24 2017 Thursday ,28 December

Erdogan says 'terrorist' Assad cannot be part of Syria

GMT 12:59 2016 Saturday ,05 November

WB welcomes economic reforms in Egypt

GMT 18:40 2016 Saturday ,05 November

Egyptian GDRs in London down

GMT 10:57 2017 Wednesday ,06 December

Peru striker Guerrero has doping ban extended

GMT 17:51 2017 Tuesday ,07 March

Trump Signs New Travel Ban on Six Muslim Countries

GMT 10:30 2017 Wednesday ,06 September

Saudi Information Ministry praises media role during Hajj

GMT 15:29 2017 Tuesday ,24 January

Mind games really do help your brain

GMT 06:55 2015 Thursday ,01 October

Boston Red Sox beat Yankees

GMT 08:17 2017 Monday ,28 August

Bahrain celebrates World Humanitarian Day 2017

GMT 02:07 2017 Tuesday ,28 February

Opposition seeks Russian support at Syria talks
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday