Jun 03, 2003 (The Australian Financial Review - ABIX via COMTEX)
Some question marks hang over the future of Australian department store chain, David Jones (DJs). Retail analyst on 3 June 2003 warned of more write-downs and losses, following DJs' exit from its loss-making Foodchain gourmet store business and its Internet retail arm. Investors, Westfield and QIC, are likely to drive a hard bargain, should DJs try to exit its 30-year lease agreement for 15,000 square metres of space in the yet-to-be-built extension of the Fountain Gate shopping centre in Melbourne. DJs also has viability problems with its new store at Hornsby in Sydney's north.
Publication Date: 4 June 2003
DAVID JONES LIMITED - ASX DJS: FOODCHAIN BY DAVID JONES: WESTFIELD HOLDINGS LIMITED - ASX WSF: QIC FINANCE (SHOPPING CENTRE FUND) PTY LTD: QUEENSLAND INVESTMENT DEVELOPMENT CORPORATION
By Mathew Chandler
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