Juggling Zahra faces a David Jones tightrope

David Jones' mild momentum has stalled, putting the spotlight on chief Paul Zahra as he navigates sector overstocking, weak sentiment, an alliance shift and more.

The signs of a weakening of the mild momentum in retail sales that had developed earlier this year that were evident in Myer’s third-quarter sales numbers last week were far more pronounced in David Jones’ quarterly sales today.

The smaller group’s third-quarter sales were down 2.2 per cent. On a comparable stores basis they were down 3.4 per cent. Myer, at least, managed positive, albeit anaemic, growth of 0.5 per cent for the period.


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