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Department store retailer David Jones Limited (ASX:DJS) will cease selling low margin items including DVDs, music and video games under a new strategy aimed at arresting falling sales.
After a flat first quarter, sales slipped 1.4 per cent in the second quarter, taking DJ’s total sales revenue to one billion dollars.
CEO Paul Zahra said the company will refocus on higher margin categories including fashion and beauty.
David Jones posted a full year net profit of $101 million in the 2012 financial year.
