Although shoppers remain cautious, Scott Fyfe and Anchorage Capital are hoping their $250 million revamp will keep consumers spending.
The Anchorage Capital-owned department store has signed up US advertising firm Criteo to help it boost revenue and profitability.
Anchorage paid $92.5 million for the group in March, but financial accounts show the full value of the company and its assets was closer to $376 million.
John King’s comments come as Solomon Lew’s Premier Investments creeps up the company’s shareholder register.
The former owners of the upmarket chain made just $30 million-odd profit on the sale to Anchorage Capital Partners.
The department store, which was acquired by Anchorage Capital Partners in a deal that closed last week, has 19 stores in the shopping centre giant’s properties.
David Jones chief executive Scott Fyfe says Latitude Financial’s massive data breach has not changed the start date for its new store credit card.
The PE firm has big plans for the 185-year-old department store with a vision to create a near $1b online business – but it won’t be easy.
Retailers across Australia are dealing with increased rates of theft, including from organised crime groups.
The department store chain posted its best profit since 2014, providing investors with a 4¢ dividend and a 4¢ special dividend that sent its shares surging.
The grocery chain offered to push more goods through failed Scott’s Refrigerated Logistics trucks, but baulked at providing additional unsecured financing.
But the department store, being acquired by private equity group Anchorage Capital Partners, expects customers to pull back on spending in coming months.
The department store will report half-year results next week, just as its major shareholder lifts its stake once again.
The upmarket department store has penned a 10-year deal with the financial services company, ending its long-term relationship with Amex.
The department store’s December half sales surged more than 30 per cent, but a more telling figure is the last six weeks through to Christmas Day.
Private equity firm Anchorage is backing an iconic brand and a leader it believes can turn David Jones around.
David Jones is back in Australian hands after Sydney private equity firm Anchorage bought the upmarket department store for $100 million from its South African owners Woolworths who bought it for $2.1 billion in 2014.
Anchorage Capital dealmakers have got their hands on the Christmas present they wanted - a locked and loaded deal to buy 184-year-old retailer David Jones.
The parent company’s boss Roy Bagattini flew to Australia over the weekend to give the tick on the deal that will end its ownership of the department store after nearly a decade.
Shake off the sandals and the sneakers and get ready to party in splendour. Just be sure to keep your balance.
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The former Deutsche Bank investment banker, who joined in 2020 and was promoted to run the business bank last year, will succeed Peter King in December.
Satisfied employees are convinced they are lucky exceptions in a world of toxic bosses and burnout.