David Jones has brushed off suggestions it will head downmarket under its new owners, and says it aims to build more boutique stores amid continued economic uncertainty.
Chief executive Iain Nairn, who was appointed in August after the AUD2.1 billion takeover of David Jones by South African retailer Woolworths Holdings, said its tracking of about AUD30 billion in retail spending showed “significant” growth in year-on-year spending.
“The customer is spending and we’re making good market share gains, particularly in the department store sector,” Nairn said.
