David Jones says it has no plans to close or shrink its Newcastle store despite chief executive Ian Moir putting the retailer's regional outlets in the cross hairs last year.
The Newcastle Herald has heard rumours the David Jones Kotara store is in danger of closing, but a company spokesperson said on Thursday that this was not the case.
"There are no plans to close or reduce store space," the spokesperson said.
"We will look to continuing to develop our exceptional product and experience with our loyal Westfield Kotara customers well into the future."
David Jones' annual profit plunged from $64 million to $37 million in the 2018-19 financial year and fell another 57 per cent in the six months to December.
Mr Moir has pledged to cut the company's floor space by 20 per cent by 2026, especially in "lower demographic" and regional areas.
DJs opened its Green Hills store near Maitland in March 2018 while the company was under the stewardship of former CEO David Thomas.
The department store chain has also flagged a focus on more high-end brands.
