David Jones Q4 2012 Sales Down

Australian upmarket retailer David Jones (ASX:DJS) have announced its fourth quarter Q4 sales report.

• Full year sales fell 4.6 percent to $1.868 billion.
• Like-for-like sales dropped 4.3 percent compared to FY 2011.
• Fourth Quarter (29 April to 28 July) sale fell to $455.8 million (down 1.3 percent.
• David Jones Chief Executive Officer, Paul Zahra noted that, "Whilst trading conditions continued to be challenging throughout the quarter we did see a continued improvement in our sales tracking, with sales in 4Q12 down 1.3 percent."
• Profit guidance for full year reaffirmed at -35 percent to -40 percent.
• Total sales for the quarter: dropped to $455.8 million from $462.1 million compared to previous year's corresponding period.
• DJS stock fell on the announcement, closing Thursday trade at $2.44, down 14 cents or 5.43 percent.