Looking after No. 1

http://www.heraldsun.news.com.au/common/story_page/0,5478,16754970%255E662,00.html

WOMEN have cut spending on their men and homes so they can keep shopping for themselves.

Leading department store David Jones says sales of homewares and menswear have dropped but business in cosmetics and womenswear has
held up.
"When household budgets tighten up, women continue to buy for themselves," DJ's chief executive Mark McInnes said yesterday.

As petrol prices soar, the company announced a small decline in store earnings in the first six months of this year.

But even in tougher times, Mr McInnes said, womenswear, accessories, footwear and cosmetics sold well -- and had continued growth.

"First to go in a discretionary environment are homewares and menswear as women stop buying for their home and their men in favour
of buying for themselves," he said.

"The cosmetics section is completely recession-proof -- it's basically a commodity for women."

Rival chain Myer rejected the assessment.

"We had a strong result with menswear last year -- it was one of our stronger-performing categories," Myer corporate affairs manager
John Gillman said.

Mr McInnes said the sector was facing the most difficult trading environment since 2001.











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