"The timing of the opening of stage one of our new Bourke Street store will cement our position as the leading Christmas gift giving retail destination in Melbourne," Mr McInnes said.
"Not only will it bring to Melbourne an unprecedented portfolio of department store exclusive brands but also an additional 30 per cent selling space compared to this time last year, in a brand new contemporary environment."
Mr McInnes said the final stage (stage two) of the new store is planned for mid-2010.
Last week, Mr McInnes said the retailer was progressing well towards the peak Christmas period with up to 70 per cent of first half profit depending on trade in November, December and January.
Punters back 25-basis point rate riseRetailers close out best month in year