DJs sales fall

Department store David Jones has continued its falling sales spell, posting a 1.3 per cent decline in fourth quarter profits to $455.8 million.

Total sales for the year fell to $1.9 billion, representing a 4.6 per cent decline on the previous period.

On a like-for-like basis, sales declined by 4.3 per cent in fiscal 2012.

Chief executive Paul Zahra said the company had decreased the duration of its Winter Clearance by two weeks in the previous quarter, in line with its strategy to reduce discounting and focus on new inventory.

"Whilst the trading environment remains challenging we have a strong business model, a clear business strategy, a strong balance sheet, good cashflows, ownership of our flagship Sydney and Melbourne CBD stores and the best national and international brand portfolio in Australia."

The best performing categories in the fourth quarter were womenswear, beauty, menswear, shoes and accessories while home and electrical continued to be challenging.

On a state-by-state basis, the best performing locations in the fourth quarter were Victoria, the ACT and Western Australia.