News: DJs flags new strategy

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David Jones Limited (ASX:DJS) boss Paul Zahra says the department store of the future will be smaller, fashion-focused and won't sell low-margin items such as furniture and electricals.

 

Mr Zahra told media the time of the big generalist retailer was drawing to a close.

 

He spoke to media while unveiling the third of the company’s smaller village-format stores in Melbourne.

 

The store is about half the size of a standard store and does not include items such as furniture and electrical goods.

 

Mr Zahra told media that electronics was the company’s biggest handicap, with consumers shopping on price.

 

David Jones generated a net profit of $73.5 million in the first half of fiscal 2013.