Big retailers unanimously 'cautiously optimistic'

National retailers David Jones, Harvey Norman and JB Hi-Fi have given the economy a half-hearted thumbs up with all three describing their outlook for the year ahead as “cautiously optimistic”.

With December retail sales figures down on forecasts, the big retailers were prepared for a less than spectacular January trading period and are now pinning their hopes on a gradual improvement in consumer confidence.

David Jones today raised its earnings forecast after posting 2.4% percent sales growth for the second-quarter.

“We are cycling the worst of the 2009 economic downturn,” DJ’s CEO Mark McInnes said in the statement to the Australian Securities Exchange.

“We are cautiously optimistic about the winter trading half,” he said.

Second-quarter sales from outlets open at least a year gained 3.1%, the company said.

Last week, Harvey Norman said sales for January had met management’s expectations and the company remains “cautiously optimistic” about the next five months.

Harvey Norman’s like-for-like sales in the six months ended December 31 increased by 2.5%.

JB Hi-Fi said yesterday that sales in January had met internal expectations with comparable store sales up 7.2% (see separate story in today’s PIN Online).

“While the retail outlook continues to be uncertain, the company is cautiously optimistic that it will have another strong year, with sales around $2.8 billion (up 20%),” according to CEO Richard Uechtritz.

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