Amex a flat earner for David Jones
Christmas may be the most important season for retailers but it did not lift the profits of the credit card partnership that retailer David Jones has with American Express.David Jones said that its financial services business earned an EBIT of $21.2 million in the half year to January 2010, compared with an EBIT of $21.8 million in the July 2009 half and $19.7 million in the January 2009 half.DJs discloses very little else on the performance of its cards partnership, though the presentation for investors asserted that new card numbers are "well ahead of target" and that that DJs "gained [a] material share of new credit card openings."