Why did David Jones replace its CEO?

David Jones replaced its CEO because the department store faced consecutive annual losses amid rising competition from online shopping and standalone luxury retail brands.

What are the latest financial losses reported by David Jones?

David Jones reported a pre-tax loss of $95.5 million for the 12-month period ended June 29 last year. This financial result represents an increase in losses from the $74.1 million pre-tax loss recorded during the previous year-ago period.

What does the debt refinancing agreement mean for David Jones?

David Jones has finalised a debt refinancing agreement to restructure a credit facility previously valued at $190 million with Gordon Brothers.

How is the David Jones corporate turnaround being funded?

The turnaround strategy for David Jones is supported by a historical $250 million capital investment from its private equity owner, Anchorage Capital Partners.

What strategic changes is David Jones making to compete against domestic rivals?

David Jones is expanding its digital customer applications and developing a points-based loyalty program partnership with Qantas. The company expects these digital initiatives to improve shopper retention and provide critical data to better compete against domestic department store rivals.

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David Jones replaces CEO Scott Fyfe

Written by Heidi Cuthbert Published Jun 21, 2026, 11:30 PM

Retail executive Erica Berchtold has been appointed as the first female CEO in the 188-year history of David Jones.
The appointment follows consecutive pre-tax losses for the department store, which reached $95.5 million in the 12 months to June 29 last year.
The leadership change aims to improve the competitiveness of the company's internal brands amidst ongoing challenges from online shopping and luxury retail competitors.

The private equity-owned department store David Jones has replaced its CEO of six years, Scott Fyfe, with retail industry veteran Erica Berchtold.

The executive transition follows a pre-tax loss of $95.5 million for the 12 months to June 29 last year, which increased from a loss of $74.1 million in the year-ago period.

“What we can win at is being David Jones, and being the best department store in Australia,” said David Jones CEO Erica Berchtold.

The leadership change comes alongside secondary financial adjustments, including the finalisation of a debt refinancing facility previously valued at $190 million with Gordon Brothers.

The turnaround strategy for David Jones has historically included a $250 million investment from its owner, Anchorage Capital Partners, alongside efforts to shrink or refurbish selected retail properties.

The company has previously adjusted its business model by expanding its digital customer platforms and developing a points-based loyalty partnership with Qantas to better compete against domestic rivals.