High Street retailer has halted trading on ASX suddenly today.
This comes as the board of David Jones meet tomorrow to consider the company’s strategic plan, after which an announcement will be made.
“The securities of David Jones Limited will be placed in a trading halt session state at the request of the company pending the release of an announcement by the company,” the company announced today.
This follows media speculation this morning, although DJ’s said it did not believe there was any leak of confidential information bur rather speculation on “publicly available” material.
The trading halt will remain until Wednesday 21 March next or when an announcement is made, the notification to Australian Securities Exchange stated.
The high end retailer is rumoured to announce a massive 50% drop in future credit card earnings as part of a new deal with Amex, The Australian Financial Review reports.