David Jones has reported a surge in profitability and a return to growth in its 2026 financial year-to-date trading update.
Earnings (EBITDA) increased 325 percent for the nine-month period ended March 2026, compared to the prior year, signalling the most robust financial performance since its return to Australian ownership.
The better news, announced by the retailer in a statement, followed reports that David Jones had posted a pre-tax loss of $95.5m in the 2025 financial year, following a loss of $74.1m in 2024.
The more optimistic 2026 results results were driven by $250 million invested in refurbished stores (including Chatswood, Bondi Junction, Bourke St, Chadstone, Southland, and Burwood), cost efficiencies, and high-margin growth.
Total financial year sales were up 3.6 percent – outperforming the broader discretionary retail sector.
This was led by online sales which grew 10 percent, supported by its shoppable mobile app and a successful web re-platform.
The cost of doing business decreased 5.6 percent, reflecting a leaner, modernised operating model.
David Jones CEO Scott Fyfe said there had been a gross profit growth of 2.6 percent, and stores had also grown 1.6 percent.
“These results reinforce our commitment to delivering operational efficiency and sustainable growth,” Mr Fyfe said.
A spokesperson for owner Anchorage Capital Partners said in a statement they had achieved what “many said was Impossible.”
“The 2025 ASIC filings reflect a period of heavy capital expenditure and planned store closures for refurbishment – investment that has now concluded,” the statement said.
“David Jones is now debt-lean, operationally efficient, and remains the undisputed home of premium retail in Australia.”