David Jones Sales Jump On 'Aggressive Discounting'

David Jones Brand Ambassador Megan Gale poses outside the new David Jones Malvern Central store at the David Jones Malvern Central launch on September 12, 2013 in Melbourne, Australia. (Photo by Graham Denholm/Getty Images)

David Jones has posted its best growth in four years, with sales revenue up 4.7% in the three months to 25 January.

The retailer turned over a total of $618.1 million during the quarter, up from $590.1 million the year prior.

David Jones launched a new online store during the quarter, which “operated robustly and uninterrupted throughout the all important Christmas and Clearance trading periods,” the retailer stated, in a thinly veiled dig at rival Myer.

David Jones today reported a 150% growth in online sales during the quarter, without disclosing online sales figures.

“Whilst the sales growth experienced by the company in 2014 was pleasing, we did experience aggressive discounting in the market pre-Christmas, in particular in womenswear,” CEO Paul Zahra said.

“We expect this aggressive discounting to continue in 2H14.”

David Jones’ announcement to investors is here.

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