Profit growth for David Jones

Stronger sales have delivered a 10 per cent rise in profit for department store David Jones. Source: AAP

STRONGER sales have delivered a 10 per cent rise in profit for department store David Jones.

THE retailer's new owners, South Africa's Woolworths Holdings, said David Jones made an operating profit of $107 million in the five months to December 28, and sales rose two per cent on the same period a year earlier.

Profit growth of 10 per cent is based on pro-forma calculations for the same period a year ealier.Woolworths paid $2.2 billion for David Jones in a deal that was finalised in late July, and also took full ownership of clothing retailer Country Road.Sales in Country Road rose 9.2 per cent in the six months to December."In Australia there are early signs of an improved retail environment and we expect sales in both David Jones and the Country Road Group to be ahead of the market," Woolworths said.

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