Thursday, November 23, 2006

David Jones reports unexpected growth

David Jones Ltd (ASX:DJS), increased sales in the first quarter of 2006-07. Sales revenue was $A430.3 million. This is a rise of 6.3 per cent. This is higher than anticipated as the company had envisioned growth of between two per cent and four per cent. Mark McInnes (CEO) said that the company is prepared for strong sales in the Christmas period, which usually accounts for one third more sales than the first quarter.

I have never been a fan of this company but it is a turnaround story. Whenever I walk into the David Jones near my place it is only ever filled with the older generation and it doesn't seem to cater for the younger crowd. It may just be this one store but because of what I see I have always steered clear of it.

I might need to change my view of the company.

Good Luck investing.

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