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Australia's David Jones plans for sales downturn

Wed Aug 13, 2008 10:13pm EDT

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SYDNEY, Aug 14 (Reuters) - Australian upmarket department store chain David Jones Ltd (DJS.AX) is planning for two to three straight quarters of flat to negative like-for-like sales growth, Chief Executive Mark McInnes told reporters on Thursday.

He was speaking after the company raised its second-half profit forecast and reassured investors it could withstand a general downturn in retail sales by focusing on cost controls.

"We have planned for two to three quarters of flat to negative sales growth," he said on a conference call. (Reporting by Mark Bendeich; Editing by James Thornhill)



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