David Jones lifts Q3 sales

Retailer lifts both like-for-like and total sales in the third quarter.

David Jones (DJS) has lifted its like-for-like sales by 2.4% in the third quarter, as the retailer reaps the benefits of its new store in Highpoint, Victoria and strong growth in online sales.

In the quarter to April 26, David Jones recorded like-for-like sales of $400.5 million, up from $391.1m in the third quarter of the previous year.

The retailer said its life-for like sales included one-and-a-half months of trade in the Highpoint store, but excludes its new Malvern store.

Excluding the electronics category like-for-like sales were 3% higher. Last August, the retailer handed control of its loss-making consumer electronic business - previously owned by private equity - to Dick Smith as part of a three-year deal.

Total sales came to $407.2m, a 4.1% increase on the $391.1m recorded in the previous corresponding period.

Online sales continued their strong momentum, delivering growth of 190% in the period.

David Jones chief executive Paul Zahra said the results represented the retailer's third consecutive quarter of total sales growth and its second consecutive quarter of like-for-like sales growth.

He said the company's key categories of womenswear, menswear, beauty, shoes, accessories and homewares all delivered positive sales growth in the quarter.

The results are the first since  David Jones accepted a $2.15 billion takeover offer from South Africa's Woolworths back in April.

The positive result is a far cry from the one per cent drop in sales suffered by rival Myer over the same period.

Myer blamed its result on refurbishment work at three of its largest stores.

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