David Jones sales drop … Pandora Australia gets shutdown date … Facebook to launch affordable VR headsets

By Dominic Powell and Emma Koehn.

Department store David Jones has stumbled in its like-for-like sales over the past year, seeing a decline of 0.7%. This marks the first time the retailer’s sales have dropped since it was acquired by South African retailer Woolworths Holdings, reports AAP.

The company blamed the sales drop on a lack of consumer confidence in Australia, noting the retailer’s market share had continued to grow

“Whilst relevant market share has grown, sales growth slowed in the second half (at DJs), as falling consumer confidence resulted in lower footfall,” the company said in a trading update today.