business
David Jones Collapse Could Hand Myer a Department Store Monopoly
Experts say David Jones' collapse could leave Myer with a department store monopoly in Australia.
Key points
- Myer reported 2025 sales of nearly $3.7 billion, compared with $2b at David Jones.
- Myer shares soared more than 13 per cent on Thursday after David Jones' collapse.
- David Jones' Hay Street flagship in Perth owed $1.5 million in rent, and Vicinity Centres disclosed $2.2m in unpaid rent.
Why it matters. Myer could gain David Jones' premium sites, brands and customers, though the source notes Myer has its own challenges, including a second-worst loss in its history in September.
David Jones collapsed into administration after talks with landlords over rent assistance broke down, and Myer shares soared more than 13 per cent on Thursday. In 2025 Myer reported sales of nearly $3.7 billion against $2b at David Jones, and experts say Myer could take over David Jones' premium leases. Scentre said David Jones had not paid rent since the end of September, and administrators will release their initial report to creditors early next week.
Latest updates
David Jones Collapse Could Hand Myer a Department Store Monopoly
Sales at the failed retailer David Jones have lagged long-time rival Myer for at least the past decade, according to reporting by The West Australian. Experts quoted in the report say Myer could be the greatest beneficiary of David Jones' collapse. Talks are reportedly under way for Myer to take over the leases of David Jones stores. The outcome could leave Australia with one dominant department store operator, ending a rivalry that has run for 126 years. Other outlets have reported that customers are asking whether gift cards can still be redeemed and whether remaining stock will be discounted.