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David Jones Ltd (ASX:DJS) says its like-for-like sales eased 2.7 per cent in the second-quarter of the current financial year.
In the three months to 31 January this year the department store chain recorded sales of $617.6 million.
DJs says the result was achieved in a period of challenging trading, impacted by cooler weather, the Queensland floods and a decline in consumer sentiment.
As a result of these conditions David Jones now expects to deliver a profit at the lower end of its forecast 5 to10 per cent growth, both for the half and full year ahead.
The company has also today announced that it has entered into a 20 year agreement with GPT Group Ltd (ASX:GPT) to open a new store in Highpoint Shopping Centre in Victoria.
The Highpoint store is expected to open in 2013 and generate sales of between $50 to $60 million over time, performing within the top half of the company’s store portfolio.
In the 2010 financial year David Jones booked a net profit of $170.8 million.
