0256 GMT - Australia's real-estate owners would be largely unaffected if department-store operator David Jones ceased trading, Morgan Stanley analysts say. With local media reports suggesting that the 188-year-old chain is struggling, MS analysts tell clients that a collapse of the Anchorage Capital Partners-owned retailer would have no earnings impact on ASX-listed REITs, including SCentre, Vicinity Centres and GPT. This is assuming that landlords backfill the capacity with smaller or specialty tenants, they write. The analysts point out that shopping-center landlords have been managing department-store rationalization for years, with SCentre even growing sales at six malls that have repurposed department-store space since 2020. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

April 29, 2026 22:56 ET (02:56 GMT)

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