PHOTO: The David Jones store in Highpoint Shopping Centre in Melbourne. The national department store chain will reduce its floor space by 20 per cent, meaning that nine to ten stores could be closed down
- David Jones is reducing its floor space by 20 per cent in the next two years
- Up to 10 stores could close since there are 47 in Australia and New Zealand
- The ‘men’s store’ on Bourke Street in the Melbourne CBD will be the first to close
- It will be absorbed into the larger ‘women’s store’ along with its food hall
- The company is reviewing its food business but expanding its BP petrol stations
David Jones has revealed its plans to reduce its operations by 20 per cent with stores near other branches first on the chopping block.
The department store chain has 47 locations in Australia and New Zealand, meaning that nine to ten shops could be closed.
A David Jones spokesman confirmed they plan on cutting 20 per cent of their floor space ‘including closing stores where this makes sense’.
The first store to shut down is one of two nearby David Jones branches on Bourke Street in the Melbourne CBD.
The smaller ‘men’s store’ was sold in July for $121 million and will be absorbed into the larger ‘women’s store’ across the road, along with the food hall.
David Jones is currently leasing back the men’s premises.
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