David Jones has caused shares in its parent company to plunge.
South Africa's Woolworths Holdings took a hit after contemplating write-downs in its David Jones business.
The move comes in the wake of weak sales at the department store.
David Jones sales were 3.3% lower on a comparable basis for the December quarter, and 3.8% in total.
While sales improved in the last six weeks of the half, increasing by 0.6% in comparable stores, Woolworths is set to reevaluate the business.
Meanwhile sister company Country Road Group saw sales increase by 5.2%.