DJ’s lease squeeze

David Jones plans to squeeze shopping centre landlords over leasing arrangements as online sales threaten department store trade. CEO Paul Zahra wants lease terms reduced from 25 to 15 years. "We have no reason to open another store unless those rental agreements reach our terms and conditions," he told the Nine Network's Financial Review Sunday program.

David Jones plans to squeeze shopping centre landlords over leasing arrangements as online sales threaten department store trade. CEO Paul Zahra wants lease terms reduced from 25 to 15 years. "We have no reason to open another store unless those rental agreements reach our terms and conditions," he told the Nine Network's Financial Review Sunday program.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles