The father or mother firm of iconic Aussie retailer David Jones has poured chilly water on latest hypothesis the purchasing establishment might be offered.
South African primarily based Woolworths Holding Restricted (WHL) – which has no relationship with the grocery store of the identical identify – was thought-about by some to be getting ready to dump the retailer, which has struggled in the course of the COVID-19 pandemic.
The second half of 2021 returned a $31 million revenue for David Jones, down 44.6 per cent on the 12 months prior and turnover additionally fell by 9.2 per cent.
However WHL refused so as to add gas to the story, saying it was dedicated to returning DJ's to its former glory.
"WHL doesn't touch upon media or market hypothesis," a spokesperson for the corporate instructed 9News.com.au.
"If there have been any developments that warranted communication to the market, it might be achieved as and when required.
"WHL stays centered on the operational turnaround of David Jones and guaranteeing that this iconic enterprise is restored to its rightful market management place in Australia."
WHL acquired David Jones in 2014, valuing the retail big at round $2.15 billion.
Regardless of possession altering palms David Jones stays the oldest repeatedly working division retailer on the earth nonetheless buying and selling below its authentic identify.
It first opened its doorways in 1838 on the nook of George and Barrack streets in Sydney's CBD with the mission to promote "the perfect and most unique items".
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In the present day David Jones boasts 45 shops in Australia, usually occupying a number of the most outstanding retail places in each capital metropolis.