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.
Business Insider Emails & Alerts
Site highlights each day to your inbox.