Receivables on the David Jones American Express co-brand may be on the disappointing side. The retailer said yesterday that receivables were A$374 million as at January 2013.This is down from $383 million in mid-2008, around the time David Jones phased out its own-brand charge card in favour of the Amex co-brand.Had receivables on the David Jones co-brand kept pace with market growth they would be closer to $600 million.The card does have some traction, with one purchase in five at David Jones being made using the Amex card.The retailer said earnings from financial services in the last half year were flat. This is in line with prior guidance and reflects investment in product development.