David Jones and Myer are still cutting floor space, so what’s next for the Australian retail mainstays?

The cuts keep coming for Australia’s once-dominant major department stores.

David Jones owners Woolworths South Africa plan to reduce floor space at their Australian stores by 36,000sqm and close another three stores by mid-2024, according to a financial presentation the company made to investors this month.

Over at arch-rival Myer, chief executive John King confirmed cuts to floor space, or what he calls “rationalisation”, will continue. Since 2018, Myer has cut 11.1 per cent of its floor space.

“It’s more about floors, not stores. We don’t need four floors any more,” Mr. King told analysts. “We might need one floor or two floors or three floors, depending on the market size.”

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