David Jones Limited

David Jones Limited (ASX: DJS), colloquially known as DJ's, is an Australian retailing company. Its primary business is an Australia-wide chain of premium department stores. David Jones was founded in 1838 by David Jones, a Welsh immigrant, is believed to be the oldest department store in the world still trading under its original name. It currently has 37 stores located in most Australian states and territories. A traditional department store, it retails fashion, cosmetics, homewares, electronics as well as other products. David Jones' main rival in the Australian retail scene is Myer.

Business longevity

David Jones' flagship building on the corner of Elizabeth Street and Market Street, Sydney

Changes in management and the uneasy transition to a listed company saw DJs falter in the late 1990s. A major strategic review in 2003 saw the closing of its two unprofitable stores, the loss-making David Jones Online web-based business - arguably five years ahead of its time - and its gourmet food retail stores, Foodchain. It revitalised many of its stores, including its flagship Elizabeth Street and Market Street stores (two individual buildings, linked by an underground arcade). Since then its profitability - and profile - has improved, thanks to a combination of a consumer spending boom in 2003-2004, and the securing of exclusive deals with many high-profile Australian and international brands (often marketed as 'Available at no other department store' - a veiled reference to its rival^{[neutrality disputed]}, Myer). David Jones is a public company listed on the Australian Stock Exchange (ASX). In recent times, a downturn in the traditional department store market hurt both David Jones and its chief competitor, Myer (formerly owned by the Coles Group). Its change from private to public ownership in 1995 resulted in structural and cultural changes, which saw periods of stagnancy and high staff turnover. Shares initially offered at A$2 fell as low as A$0.90, but have since reached highs of over A$4.590. DJs is also notable for being one of the few remaining companies in Australia which offers discounts to its shareholders. It has weathered and grown strong from the massive shift in Australian retailing away from department stores towards specialist retailers and suburban shopping malls. In contrast, Myer — once the most popular department store in Australia — had faltered, to the point that its former parent company (Coles Group) sold the department store. This leaves David Jones the only remaining Australian owned department store.

Branding

Elizabeth Street entrance in Sydney

David Jones is known famously by its branding - a black-on-white houndstooth pattern which is now synonymous with the DJs brand and one of the most recognised corporate identities in Australia. David Jones is considered Australia's most upscale and exclusive department store. Most clients are of socio-economic A & B group. The origin of this motif owes itself to the insistence of its founder on not using the store's name on its packaging. His aim was that the store would be so well known that everyone should recognise it simply by this now-famous motif. David Jones has recently used celebrities for publicity purposes including Liz Hurley (makeup launch), Kim Cattrall (book launch) and Megan Gale for their own advertising. David Jones and John Lewis of the UK have similar reputations for service and quality. Both are positioned to provide products and services for the mid - upper income demographic. Further their pricing policies of matching competitors prices, their use of the word 'Clearance' to describe their twice a year sales and their logos are all very similar. David Jones has a comparable premium fashion focus to U.S. chain Neiman Marcus and the UK group Selfridges. Level 7 in the Sydney Elizabeth Street store offers 'Pret a Porter' fashions from international collections including Jil Sander, DKNY, Missoni, Ralph Lauren and Calvin Klein. David Jones is famous for its Food Hall, which to many Australians is an institution, particular for those English expatriates seeking traditional English brands. The Food Hall concept is unique in Australian retailing and offers a variety of the best of Australian and international food brands. It is based on the concept of the famous fresh food retailing departments in UK department stores Harrods and Marks & Spencer. The failed Foodchain experiment - effectively a standalone Food Hall - was sold to the parent company of Freedom Furniture in 2003 after it proved unprofitable. When it closed there were stores at Kew, Hawthorn, St Kilda and Brighton in Melbourne, with a Port Melbourne and Williamstown store due to open just before it was sold, and there were two stores in Sydney, one in Parramatta, the other in Manly.

Stores

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David Jones has department stores in all Australian capital cities (except Hobart and Darwin), two stores in Newcastle, one each in Tuggerah (NSW Central Coast), Wollongong and Robina (Gold Coast). Within NSW David Jones entered Newcastle by acquiring Scott's Department Store on Hunter Street in 1958.^[1] Expansion interstate was by acquisition of Buckley & Nunn (Melbourne), John Martins (Adelaide) and Aherns (Perth). David Jones also owned the premium 'Georges' store of Collins Street in Melbourne, now closed. The stores are always placed in major retail precincts and shopping malls. In 2007, David Jones management saw a restructuring of its store locations. This reflected the CEO Mark McInnes', intention to concentrate on "low risk, high value locations" ^[2] As a result the following stores were announced to close and will be replaced by Myer:

• Centro Bankstown closed July 2007
• Westfield Eastgardens, October 2007
• Centro The Glen, July 2008

In May 2007, David Jones replaced the Myer store in Westfield Burwood. In August 2007, David Jones opened a new store in Westfield Chermside. David Jones has announced three other new stores:

• Queens Plaza, Brisbane, February 2008
• Westfield Doncaster, Melbourne, October 2008
• Westfield Fountain Gate, Melbourne Between 2009-2012
• Chirnside Park, Melbourne Between June 2008-July 2009

^[3] It is also believed, although not finally confirmed, that David Jones will be opening stores up at locations such as Westfield Whitford City, Macquarie Centre, Indooroopilly Shopping Centre, Highpoint Shopping Centre and Cairns Central. This has not been formally announced, although these locations have been brought up in discussion when David Jones are asked about ideal store locations.

Gallery

David Jones at Woden Town Centre in Canberra

David Jones - top floor at Queens Plaza in Brisbane (Queen Street Mall end)

David Jones - top floor at Queens Plaza in Brisbane (Adelaide Street end)

References

External links

• Official website