Ann: David Jones Board Recommends A$4.00 Cash per, page-47

re: Ann: David Jones Board Recommends A$4.00 ... I was interested to hear the Woolworths (SA) CEO talking on the DJS proposal. I was particularly interested in his comments about how his Woolworths use their food offering to offer customers a good/new experience within their stores.

He seemed to think this concept would be good for DJS here, but it won't be a food offering in competition with WOW or WES.

I envisage maybe some upmarket type Cafe/casual dining experience, perhaps a bit better but similar to Macy's New York.

Anyway, something has to change to get more foot traffic into stores. Can't see any counter offers coming though at these multiples offered by Woolworths, unless private equity are feeling lucky.