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David Jones CEO resigns

David Thomas has resigned as chief executive of David Jones citing personal reasons, the department store announced today.

While a replacement will be announced in due course, Woolworths Holdings Limited group chief executive Ian Moir will work directly with the David Jones management team in the interim.

Thomas had been in the position for almost 18 months.

The department store has suffered a difficult few years, most recently witnessing sales slow in the lead-up to the Christmas period.

However, the business’ online sales grew 46.1 per cent over the 26 weeks ending 23 December 2018, contributing 7.7 per cent of total sales.

The business’ overall sales increased by 1 per cent during period, seeing “sales performance weakening in line with the rest of the retail market in the final weeks leading up to Christmas.”

Comparable store sales grew by 0.9 per cent, with any growth from new stores dragged down by the refurbishment of the Elizabeth Street flagship.

Shares in South-African Woolworths Holdings increased 0.61 per cent following the announcement, to 49.80 rand per share ($5.17 per share).

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