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• it;! DAVID JONES THE

• it;! DAVID JONES THE MARKET Under new Chtef executive Peter Wilkinson. Davtd Jones is tacKling Australia's challengtng retail environment on all fronts. As Austral a's premier department store. David Jones· advantage is that it not only houses a supenor range or labels and btands, bultts own name 1s synonymous w1th fashion and the Australian social scene. 'DJs· IS an Australian ICOn. Peter Wdk1nson descnbes the relattonst11p between Dav1d Jones and tiS customers as a "lasting and endur ng passionate and all· enveloptng love affair". The stores aim to provtde myst1que. excitement and su1 pnses tn the shopping expenence. Tne tlagship Elizabeth Street store in Sydney rematns e1 untque and sparkling venue, wloile other stores have been upgraded or are in the process of upgradtng At the same lime as David Jones IS bulldtng and rnointa1ning its t)istoncal pos1t1on 111 Australian retailing, the team tS closely monitonng retailing trends rn Eu1 ope and North America. The corporate V1S1on is to become a cutltng edge retailer and wor1d best practtce 1s constantly being e~dapted and applied to tmprove existing operations. In the s1x months to December 1996 total sales were 8782. 1 rntlhon and earnings before 1nterest and tax were .7 million. This mAkes David Jones the second largest traditional department store in Australia and t11e fifth la1gest retailer overall. ACHIEVEMENTS As Australia's oldest department store, DaVId Jones' achtevements are significant indeed Stnce the 1830s David Jones has brought the t11ghest quahtyand rnost fashtonab'e products from around the WOrld wrU1in reach of the Australian consumer. In September 1946. David Jones began a series of exclusive tast1ion sl:lows tn Sydney 'Paris Fashions lor All'. 'CI lristtan Oior and other leadnog French Couturiers'. 'Italy at David Jones', 'Sweden at David Jones': 'San Franc•sco Inspiration and the 'Paris1an Accessones Cot.ectton · were just a few of the stunntng and revolut,onary shOWings brought to Australia by David Jones. In 1968 David Jones was awarded the Coat of Anns an honour awarded to cornmerc,al organ1sa- lions only where they are pre·emtnent in a field of national value and importance. Recent achievements at David Jones tnclude its reftotation on the Australian Stock Exchange. Since hshng, rnore than 42,600 sharerolders have JOined the group's share regtster. HISTORY David Jones iS Australia's oldest depariment store, having commenced trading on 24 May 1 &'38. just 50 years after the founding of New South Wales.lhe founder. DaVId Jones lounselt was a Welshman, London·tratned in the drapery trade. His business, which consisted of a retail shop and a warehouse flounshed immediately. supported no! only by Sydney gentry but also large nurnbel's of country sertlers. By 1853 David Jones was financially secure and had relired. leavtng the management of the busi ness in the hands of his partners. Even though lhts period was one ol great expansion in New South Wales. Davtd Jones & Co became insolvent and was asstgned to trustees for the benelit of creditors. Jones also lost everything. But at sixty years or age, he borro'Ned heavily ard ourchased Dav1d Jones & Co from the trustees. reopentng on 13 August 1860. Edward, his youngest son, JOined the business at this hrre. Once again, the bustness flourished, and having repaid all credttors. Davtd Jones rehred 1n 1 868 Davtd Jones & Co cont1nued under the control of James Woodward and Edward John Jones. Umited liability was adopteo in 1906. w,th the company registered with a capital of £250.000. The grandsons of the founder. Edward Uoyd Jones and Char1es Uoyd Jones. were appotnted to the boara and shortly afterwards Edward Uoyd Jones became a director. Edward was cl1airman until 1920 and was succeeded by Charles who gu1ded the company until 1958. The company was not greatly affected by World War I Having opened a manufacturing plan! 111 i 914 the company was ab!e to supply quantity and qunlity of goods desp1te the war Growth contmued and its expansion plans culminated 1n the opening of today's nagshp store Elizabeth Streei •n 1927. In 1 935 the men's store was opened and shortly afterwards in 1 938 the Market Street store was buill and opened to coincide Vvith the centenary of the company. By then the company's staff numbered over 5000 employees. Dunng Wor1d War 2 David Jones contnued to trade profitably desp1te the rationing of goods. the loss of staH to the Armed Forces and the occupa tion of the newly opened Market Street store by the Ministry of Munitions. A period of consolidation follovved the war until the company's acquiSition of a store in Wagga, New South Wales in 1953 became the toren;nner of a majo• expanston around the country. By 1 958, David Jones had stores in Adelatde, Penh. Bnsbaneand Newcastle. Thts exoansion continued rapidly over the next 20 years creating a national retail cha1n wh1ch now numbers almost 30 stores. Difficult trading condiltons in the late 1970s resulted in a decline tn the company's profitability and in 1 980 the Adelaide Steamsh p Company Ltd was able to acquire a maJOr shareholdtng. Policy changes were implemented to enable the company to cont1nue to grow and an extensive modernisation program ensured that all the comp

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