David Jones CEO David Thomas departs
The AFR reported that David Jones has been rocked by its second scandal in less than 10 years, with chief executive David Thomas resigning despite being cleared of a discrimination complaint, the fourth CEO to depart in five years. DJs said Mr Thomas' successor would be announced in due course and Woolworths chief executive Ian Moir will work directly with the DJs management team in the interim. On the trading front, the retailer has been discounting heavily to lure shoppers amid the worst discretionary retail conditions since the global financial crisis. DJs' sales tanked in the run-up to Christmas, with same-store sales growth slowing to just 0.9% in the 26 weeks ending December 23 after rising 2.4% in the 20 weeks ended November 11. This followed a 3.3% fall in same-store sales in the year-ago period.