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DAVID JONES NEWS ON FASTMOVING

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Woolworths carves out market share in SA

Woolworths carves out market share in SA

27/11/2019 - 10:11
In Australia, David Jones's sales declined 2.1%, with the company saying a store refurbishment contributed to the decline. read more
Woolworths cuts final dividend by a quarter as CEO moves to Australia

Woolworths cuts final dividend by a quarter as CEO moves to Australia

29/08/2019 - 09:13
Woolworths has cut its final dividend to shareholders by a quarter after a write-down against troubled Australian chain David Jones dragged the high-end retailer to another annual loss.  read more
Woolworths writes down value of David Jones - again

Woolworths writes down value of David Jones - again

01/08/2019 - 09:25
Woolworths has once again reduced the valuation of struggling Australian department store chain David Jones, which has now more than halved in value in the five years since it was acquired. read more
Woolworths share price recovers on renewed optimism

Woolworths share price recovers on renewed optimism

13/06/2019 - 09:04
Shares in Woolworths have rebounded in recent weeks, thanks to a recovery in the sector and optimism that the worst may be over for the high-end retailer, whose foray into Australia has proven costly for investors. read more
Is Woolworths unravelling in Australia?

Is Woolworths unravelling in Australia?

15/02/2019 - 16:35
The sudden departure of two Australia-based nonexecutive directors of Woolworths has fuelled speculation that the troubled retailer will be forced to announce another huge write-down related to the R21bn acquisition of the David Jones department store. read more
Struggling Woolworths shares fall after two more directors leave

Struggling Woolworths shares fall after two more directors leave

12/02/2019 - 11:20
Struggling retailer Woolworths saw its share price decline to the lowest level since 2012 after saying two nonexecutive board members with extensive business experience in Australia resigned with immediate effect on Monday. read more
Woolworths loses third David Jones CEO

Woolworths loses third David Jones CEO

07/02/2019 - 13:20
The CEO of Woolworths’s Australian department store chain David Jones has resigned after less than two years in the job, and the JSE-listed retailer is now headhunting its fourth CEO for its Australian chain since it acquired it in 2014. read more
Woolworths bedeviled by declining sales

Woolworths bedeviled by declining sales

18/01/2019 - 10:35
As Woolworths tries to recover from the impairments of A$712.5 million (R7.02 billion) it suffered last year in its Australian subsidiary David Jones, the retailer continued to experience declining sales in the 26 weeks to end December trading period in South Africa.  read more
Woolworths to return to profit

Woolworths to return to profit

15/11/2018 - 14:16
Woolworths will return to profit in the first half of its 2019 financial year following the loss caused by its R7bn impairment of Australian department store chain David Jones in the matching period.  read more
Woolworths faces possible further S&P downgrade

Woolworths faces possible further S&P downgrade

26/09/2018 - 08:11
S&P Global Ratings said it could downgrade southern hemisphere retailer Woolworths again if its position in the non-food markets in SA and Australia weakens further. read more
Woolworths' Australian albatross

Woolworths' Australian albatross

30/08/2018 - 11:19
With only the food division shining, the retailer needs to smarten up its business wardrobe. read more
Woolworths posts R3.5bn loss on R7bn David Jones impairment

Woolworths posts R3.5bn loss on R7bn David Jones impairment

23/08/2018 - 08:55
The R6.9bn impairment of Australian department store chain David Jones knocked Woolworths into a loss of R3.5bn for its 2018 financial year, from a profit of R5.4bn in the prior year, it reported. read more
David Jones impairment to send Woolworths into the red

David Jones impairment to send Woolworths into the red

19/07/2018 - 13:44
Woolworths will report a loss due to the impairment of its Australian department store chain David Jones. read more
Woolworths Australian chain David Jones axes managers

Woolworths Australian chain David Jones axes managers

29/06/2018 - 10:07
Woolworths’s ailing Australian department store chain, the value of which has already been slashed by more than R7bn, has wielded the axe once again. read more
Woolworths Australia CEO resigns

Woolworths Australia CEO resigns

22/05/2018 - 11:07
South African retail giant Woolworths said that it had discontinued the role of regional chief executive in its Australian operations in a bid to simplify the leadership structure in that country following a strategic cost review. read more
Woolworths pins its hopes on the Ramaphosa effect

Woolworths pins its hopes on the Ramaphosa effect

23/02/2018 - 08:59
Woolworths has pinned its recovery on SA’s new political leadership under President Cyril Ramaphosa as the retailer’s woes have prompted it to cut its interim dividend for the first time in eight years. read more
Offshore markets: SA retailers face the reality of expansion ambitions

Offshore markets: SA retailers face the reality of expansion ambitions

30/01/2018 - 09:37
A herd mentality has seen many local retailers burn their fingers in the UK and Australia. read more
Is Woolworths 'in need of a shake-up?'

Is Woolworths 'in need of a shake-up?'

29/01/2018 - 10:36
Analysts are divided on whether Woolworths CEO Ian Moir should fall on his sword after the retailer was forced to impair the value of its Australian department store chain, David Jones, by nearly R7bn. read more
Woolworths reveals R7bn David Jones setback

Woolworths reveals R7bn David Jones setback

25/01/2018 - 09:14
Woolworths said on Wednesday it had impaired the value of Australian department store chain David Jones by nearly R7bn, or about a 10th of the South African retailer’s total market capitalisation. read more
Woolworths expands food division but clothing remains biggest profit driver

Woolworths expands food division but clothing remains biggest profit driver

25/08/2017 - 11:58
Woolworths’ clothing division remains its biggest profit centre, despite flat sales and squeezed margins. read more
Woolworths faces fight on many fronts

Woolworths faces fight on many fronts

22/06/2017 - 12:39
Shares in Woolworths, once regarded as a recession-proof retailer, are trading close to three-year lows as the company finds itself stuck between SA’s stalling economy, the cash-guzzling turnaround of its David Jones acquisition in Australia and an impending competitive onslaught from Shoprite, which is moving up-market. read more
Woolworths set to unify Country Road Group and David Jones

Woolworths set to unify Country Road Group and David Jones

24/03/2017 - 13:38
Woolworths is combining its Australian subsidiaries Country Road Group and David Jones into one group called WHL Australasia.  read more
Woolies prepares for ‘onslaught’

Woolies prepares for ‘onslaught’

17/02/2016 - 10:18
Johannesburg - Woolworths is preparing itself for what CEO Ian Moir calls an “onslaught”, which he believes is coming in the next 3 to 5 years. read more
Bleaker outlook hits Woolworths stock

Bleaker outlook hits Woolworths stock

15/02/2016 - 10:44
Shares in upmarket retailer Woolworths (Woolies), the darling of the JSE’s consumer sector, were shredded on 11 February with nervous investors fretting over less compelling prospects for the financial year ahead. read more
Woolies to open more stores

Woolies to open more stores

28/08/2015 - 09:15
Johannesburg - Woolworths, South Africa's largest retailer by market capitalisation, reported a 20.5 percent rise in full-year profit, boosted by sales at the Australian department store chain it bought last year and defying a tepid economy at home.  read more
BDS to take #boycottwoolworths campaign to Australia

BDS to take #boycottwoolworths campaign to Australia

27/11/2014 - 10:17
Cape Town - Public benefit organistion BDS SA on Wednesday vowed to take its #boycottwoolworths campaign to David Jones in Australia to force the local retailer to stop selling goods imported from Israel. read more
Woolworths finalises R9.98bn rights offer

Woolworths finalises R9.98bn rights offer

03/09/2014 - 09:38
Johannesburg - Woolworths [JSE:WHL] has finalised the terms of a rights offer to raise nearly R10bn through 167.8 million new ordinary shares, the company said on Tuesday. read more
Woolworths plans R10bn rights offer

Woolworths plans R10bn rights offer

01/09/2014 - 10:28
Johannesburg - Woolworths [JSE:WHL] plans to raise R10bn through a rights offer to help repay financing for its acquisition of Australia's David Jones, the company said on Friday. read more
Woolworths profit hit by David Jones costs

Woolworths profit hit by David Jones costs

28/08/2014 - 11:42
Johannesburg - Woolworths [JSE:WHL] reported a lower-than-expected 10% increase in full-year profit on Thursday, hit by costs related to its acquisition of Australia's David Jones. read more
Woolworths shuffles management in Australia

Woolworths shuffles management in Australia

13/08/2014 - 14:23
Cape Town - Woolworths announced on Tuesday that Paul Zahra has resigned with immediate effect as CEO and managing director of David Jones and Iain Nairn will take his place immediately. read more
Ghana is next stop in TFG’s African plans

Ghana is next stop in TFG’s African plans

05/08/2014 - 13:33
The Foschini Group’s (TFG’s) Africa agenda is on track, with five store openings in Ghana on the cards for October, as it eyes the continents other high-growth markets such as Kenya, Angola, and Mozambique. read more
Woolworths Country Road offer now unconditional

Woolworths Country Road offer now unconditional

25/07/2014 - 16:54
Cape Town - Woolworths Holdings [JSE: WHL] is pleased to announce that it has achieved over 90% relevant interest in Country Road. read more
Country Road expects steep earnings rise

Country Road expects steep earnings rise

10/07/2014 - 10:52
Woolworths’ Australian subsidiary, Country Road, said this week, it expected full-year earnings to rise as much as 66% to Aus$100.9m ($94.8m) as Witchery Group, which it acquired in 2012, provided a fillip. read more
Woolworths: Final offer for David Jones, Country Road

Woolworths: Final offer for David Jones, Country Road

01/07/2014 - 08:48
Woolworths would not sweeten its $2.1 billion (R22.3bn) takeover offer for Australia’s David Jones, the JSE-listed upmarket food and clothing retailer said yesterday. read more
Woolworths moves on Australia's Country Road

Woolworths moves on Australia's Country Road

26/06/2014 - 11:57
Sydney - Retail giant Woolworths on Tuesday announced a bid to buy out Australian fashion chain Country Road as part of its plan to take over prestigious department store David Jones. read more
Aus puts $2bn Woolies takeover vote on ice

Aus puts $2bn Woolies takeover vote on ice

19/06/2014 - 15:50
Sydney - Australian department store operator David Jones said it will postpone a shareholder vote on a $2bn takeover bid from Woolworths Holdings [JSE:WHL] until mid-July, after Australian billionaire Solomon Lew took a 9.89% stake. read more
Woolworths buys David Jones for $2bn

Woolworths buys David Jones for $2bn

18/06/2014 - 15:22
Cape Town - Shareholders of Woolworths overwhelmingly backed the SA retailer's R21.5 billion ($2 billion) buyout of Australia's David Jones on Tuesday. read more
Woolworths deal may be in Australian magnate’s line of fire

Woolworths deal may be in Australian magnate’s line of fire

12/06/2014 - 11:29
Solomon Lew continues to be a noose around Woolworth’s neck. It emerged last week that the Australian retail magnate had bought a small stake in department chain, David Jones, just weeks ahead of a shareholders’ vote that could thwart South Africa’s biggest retail deal. read more
 Woolworths gets nod for Australian takeover

Woolworths gets nod for Australian takeover

08/05/2014 - 11:08
Sydney - The upmarket Australian retailer, David Jones, said a takeover proposal from Woolworths has been approved by Australia's foreign investment review body.  read more
Woolworths to acquire Australian brand, David Jones

Woolworths to acquire Australian brand, David Jones

14/04/2014 - 14:34
David Jones is an iconic Australian brand and occupies a similar customer positioning to Woolworths in South Africa at the premium end of the apparel business, with both businesses enjoying strong aspirational brand identities and a strong alignment of values that put the customer first, offering excellent service and quality.  read more