NEWCASTLE: After 54 years of trade, David Jones' Newcastle store is no more.
The lease on the department store's Hunter Street, Newcastle (NSW) site expires today (January 31) and will not be renewed. Instead, the retailer will direct customers to its recently refurbished store in nearby Kotara.
David Jones CEO Paul Zahra said the Kotara store offered a 33 per cent increase in space and “a bigger and better” selection of brands.
“We are confident of migrating customers and sales from our Newcastle store following its closure, to our Kotara store and of enhancing profit due to the lower cost base of not operating a store as old and as in need of refurbishment as our Newcastle store,” Zahra said.
David Jones' decision to close its Newcastle site was first revealed in August 2010. The retailer said the decision followed revelations from property developer GPT Group that it would not be proceeding with its $600 million redevelopment of the Newcastle CBD.
Zahra said at the time the company was “disappointed” the Newcastle redevelopment was not going ahead.
David Jones' Newcastle staff are to be redeployed to the company's Kotara store.