Department store David Jones said on Thursday its Chief Executive Officer David Thomas had resigned and that Ian Moir, the CEO of its South African parent Woolworths Holdings would help run the business in the interim.
Shares in Woolworths fell more than 8% on Thursday after the South African department store operator posted slower half-year sales growth and said it expected its headline earnings to drop by 5% in the period
Shares in South African retailer Woolworths slid to a six-year low on Thursday after it reported a 3.5 billion rand annual post-tax loss, hurt by a hefty write-down on the value of its David Jones business in Australia.
The problems currently being endured by Australian department store operators have come into even sharper focus as upscale retailer David Jones has axed 16 senior staff with its fashion MD having been terminated
Asos and the British High Commission are hosting a event in Mauritius this Thursday with the aim of discussing the challenges in managing labour migration and agreeing a common framework for workers’ rights.
Upscale Australian department store chain David Jones saw A$712 million being slashed from its value on Thursday as South African owner Woolworths booked an impairment charge linked to the underperforming business