This case study discusses the impact of an increase in accounting metrics but a fall in share price. DJ sales pick up but shares dive by Rachel Hewitt David Jones shares yesterday suffered their biggest one-day drop this year, despite the retailer unveiling a better fourth-quarter sales result. The shares were hammered more than 8 per cent to $4.81 the biggest fall since November last year as the department store chain booked a 6.9 per cent dive in full-year like-for-like sales. However, after falling almost 11 per cent in the third quarter, comparable sales rebounded in the fourth, to be down just 1.2 per cent on the back of stronger trading. David Jones chief Mark McInnes refused to say the worst was over for department stores, warning the economy was still open to "an external shock". "It's not about being less confident, it's more about recognising that the jury's out as to the recovery and the pace of recovery of the economy," he said. Mr McInnes said the fourth quarter sales of $512.3 million were much better than expected "and after the previous three quarters, which were terrible, it was a great relief