default-output-block.skip-main
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Woolworths May Sell Two David Jones Stores in Revamp Efforts

Woolworths Holdings Ltd., the South African food and clothing retailer which bought David Jones last year, may sell two of the Australian retailer’s sites as it looks to revamp other stores in central business districts.
By
  • Bloomberg

CAPE TOWN, South Africa — Woolworths Holdings Ltd., the South African food and clothing retailer which bought David Jones last year, may sell two of the Australian retailer's sites as it looks to revamp other stores in central business districts.

The company is considering selling locations in Melbourne and Sydney, Cape Town-based Woolworths said in an e-mailed statement on Thursday.

Woolworths could raise almost $400 million from the sale, the Sydney Morning Herald said Wednesday, citing Chief Executive Officer Ian Moir.

An improved performance by David Jones helped offset slower growth in Woolworths’s home market in second-half results released last week. The seller of organic foods and clothing bought David Jones last year for about $2 billion to help create a southern-hemisphere retail giant.

David Jones has 38 stores total, according to its website.

By Janice Kew; editors: Matthew Boyle, Thomas Mulier, John Bowker.

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Retail
Analysis and advice from the front lines of the retail transformation.

By investing in an elevated product and shopping experience, Spanish retailers Inditex and Mango are seeing tremendous growth despite fierce competition from the likes of Temu and a cash-strapped consumer.


The ByteDance-owned app’s e-commerce play has been met with mixed response from users. Still, sales seem to keep ticking up.



view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
BoF Professional Summit - New Frontiers: AI, Digital Culture and Virtual Worlds - March 22, 2024
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
BoF Professional Summit - New Frontiers: AI, Digital Culture and Virtual Worlds - March 22, 2024