NATIONAL: Total sales figures released today reveal Myer has outperformed David Jones in the first quarter of the 2009/10 financial year.
While both department stores reported increases in total sales on the same period last year, Myer edged out David Jones with a total sales increase of 5.2 per cent. Total sales for Myer for the first quarter measured $717.1 million.
David Jones' total sales revenue measured $452.1 million, an increase of 2.2 per cent on the first quarter of the previous year.
Both stores reported feeling the effects of recent and ongoing store redevelopments.
Myer's Melbourne flagship store is nearing completion after a long rebuild, and Myer chief executive Bernie Brookes noted that prior redevelopments had had a positive impact on the first quarter's figures.
"The performance of our Doncaster store since refurbishment last year is particularly pleasing and the store is on track to deliver annualised sales of $85 million," he said.
David Jones is also in the midst of overhauling its Bourke Street Melbourne store, with stage one of the development set to open at the end of November. In addition the retailer has closed its main store in Claremont, Perth while it is being rebuilt.
Underlying total sales for David Jones after excluding the Bourke Street and Claremont projects were up 4.5 per cent on the first quarter of 2008/09.
David Jones CEO Mark McInnes remarked the latest sales figures were "better than expected" and, along with Brookes, reported an increase in consumer confidence in the lead up to the Christmas season.