David Jones $100m sale to Anchorage Capital Partners reflects declining value of department stores, analysts say

The sale of 184-year-old retail chain David Jones at a massively discounted price shows department stores continue to lose value and will face greater challenges next year as interest rates bite.

This week, Woolworths Holdings Limited (WHL) — which has no connection with the Australian supermarket chain — sold David Jones (DJs) to Sydney private equity firm Anchorage Capital Partners.