This announcement supports the new owners strategy of cutting back regional stores to flagship CBD locations, whether that be in Australia or overseas. Whilst it was expected David Jones would be focussing on getting their domestic business in order it is good to see them leveraging overseas opportunities to grow their business. While I don't expect Myer to follow suit in the near term they have in the past looked at overseas options in the Middle East and Asia.
David Jones to open in NZ June 4, 2015 Inside Retail David Jones will open its first store outside of Australia next year in Wellington, New Zealand. The department store will open its New Zealand flagship store in Lambton Quay, Wellington on the site of NZ-based department store, Kirkcaldie & Stains. Under an agreement subject to a number of conditions precedent, including Kirkcaldie & Stains shareholder approval, David Jones will take a lease assignment of the store and purchase the brand name when Kirkcaldie & Stains ceases to trade early next year. It also intends to offer employment to the majority of the current Kirkcaldie & Stains retail workforce.