David Jones’ poor results reflect changing retail culture – ABC Local

David Jones’ poor results reflect changing retail culture – ABC Local

david-jones’-poor-results-reflect-changing-retail-culture-–-abc-local

Retail analysts are predicting an inevitable downsizing of major department store, David Jones, after another bad financial result.

Its South African owners Woolworths Holdings says Australia is in a “retail recession,” and it’s written down its assets by $437 million.

But analysts say it’s not just the retail sector’s fault – department store culture just isn’t what it used to be.

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