What Woolworths plans to do to save David Jones
David Jones has dragged Woolworths into another loss. This as the retailer had to cut the valuation of the Australian department store yet again. On the other hand, sales in the company's local business picked up with the struggling fashion business returning to sales growth. The group expects the clothing business to continue its turnaround but for now, the group's loss after tax sits at R1.1 billion. Group CEO Ian Moir joined Business Day to unpack what needs to be done at David Jones.