David Jones Limited
(ASX:DJS) has reported a 5.9 per cent dip in its full year net profit of $95.2 million, however says it is well positioned to capitalise on any rebounding consumer confidence.
The retailer saw a 1.2 per cent decline in its revenues of $1.84 billion.
CEO Paul Zahra says DJ’s strong balance sheet, low debt, strong cash flows and flagship CBD properties as factors that will aid it in riding any renewed wave of consumer enthusiasm.
Despite this, Mr Zahra says trading conditions will remain challenging over the next year owing to subdued sentiment and ongoing competitive pressure.
David Jones will pay a final dividend of 7 cents, taking its full year shareholder payout to 17 cents.
