Up market retailer David Jones Ltd
(ASX:DJS) says fourth quarter sales rose 0.6 per cent to $512.3 million, up from $509.1 million in the fourth quarter of 2008.
On a same store’s basis, sales fell 1.2 per cent for the quarter.
CEO Mark McInnes says the company’s trading performance in the fourth quarter of 2009 was much better than expected and demonstrates a sharp, positive turnaround in performance for the year.
David Jones also reaffirmed its outlook for profit growth of 20 to 30 per cent in the second half of 2009, full year growth of 8 to 12 per cent, and growth in 2010 of 0 to 5 per cent.
Mr McInnes says the company’s pleasing sales performance in the fourth quarter of 2009, and performance of the David Jones American Express card, has helped enable the company to reaffirm its second half, full year and 2010 growth guidance.
David Jones profits have been increasing year on year for the past four years.
