Are David Jones and Myer department stores shutting down?

So far, the answer is no.

But they could.

Recently, you might have seen a few headlines questioning the futures of Australia’s major department stores.

It comes after an investor behind David Jones said it had provided financial assistance to help the retailer stay open till Christmas.

Rival chain Myer was also in the news last month after it posted a $276 million loss.

So, is there any merit to the rumours that stores might be shutting down?

Let’s unpack.

David Jones

David Jones was founded in 1838.

It’s the world’s oldest continuously operating department store still trading under its original name.

Anchorage Capital has owned it since 2023.

It has 39 stores across Australia and New Zealand.

David Jones ran at a $95.5 million loss in 2024-25.

Its sales also fell by 8.7% to about $2 billion.

Latest

In recent months, there has been increased media commentary about David Jones’ poor financial performance.

In response, a string of brands have pulled back from David Jones.

For example, the Country Road Group is closing nearly 100 of its 283 in-store concessions.

This week, Lender Hilco Capital confirmed it had loaned additional funding to David Jones to help give stockists confidence through the Chistmas period, saying it “remains supportive of the business”.

Closure

David Jones hasn’t confirmed any closures, but media have reported that CEO Erica Berchtold is reviewing plans to cut the number of stores by more than half.

An Anchorage spokesperson told The Age that directors are in “intense” talks to decide the future of the business by Christmas.

David Jones did not respond to TDA’s request for comment.

Myer

Myer is David Jones’s biggest rival.

Brothers Sidney and Elcon Myer opened the first store in Bendigo in 1900.

It listed on the Australian Securities Exchange in 2009, meaning financial results are available to the public.

Myer reported a $276.5 million loss for the 2026 financial year, largely due to an “impairment” attributed to “goodwill” and “brand intangibles”.

In economics, goodwill can refer to two things: paying more for a company than it is technically worth, or investments in customer loyalty.

Myer bought the company Apparel Brands, which owns Portmans and Dotti, in early 2025.

Myer did not directly respond to TDA’s questions about store closures, but a spokesperson told us it is “set for Black Friday and Christmas”.