David Jones flagship facelift - and drain on profits - on track
Woolworths paid A$2.1bn for the 181-year-old David Jones chain in 2014
14 July 2019 - 00:03
The refurbishment of David Jones's Elizabeth Street store in Sydney is on track, with plans to turn the flagship of the Australian chain into one of the world's most glamorous department stores.
Woolworths paid A$2.1bn for the 181-year-old David Jones chain in 2014, but had to slash the value of its investment by A$712m (about R7bn) early last year. Woolworths CEO Ian Moir later admitted it paid too much for the business...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.