High-end retailer David Jones Ltd (ASX: DJS) said on Tuesday that it is right on track to achieve its 2010/11 profit guidance though it admitted that in order to reach the higher range of its earnings forecast, the company must experience a full swing recovery for the whole of the fiscal year.

The company reiterated its earlier pronouncement that it would achieve up to 10 percent of growth in profit after tax (PAT) in fiscal 2011 and that forecast so far rode on a good start as David Jones reported that its first seven weeks of performance has returned favourable figures that were in line with expectations.

David Jones also underscored the fact that all its CBD flagship stores saw continuous operations throughout the year despite the major renovations implemented by the company on major outlets, which it said was the first instance in more than 10 years time.

The luxury retailer offered suggestions that the department store industry in Australia carries substantial attractions that could entice prospective investors, stressing that David Jones itself could give "higher long term department store sales growth compared to the USA and UK."

The company expressed confidence that it is able to provide for a robust business model with corresponding solid balance sheets, which were all supported by David Jones' considerable financial and strategic results from both fiscal years 2009 and 2010.

Furthermore, David Jones said that the company's current business strategies were right on track to attain profit growth for the next two fiscal years as it gave assurance that sufficient foundations were already established "for continued profit growth in FY13 and beyond."

Along that line, the stylish store specialist said that it is all set to develop a comprehensive strategic plan by 2011 and 2012, which should secure the company's fiscal growth from 2013 through 2016.