The forecast by David Jones that it may multiply the receivables base on its store card by between three and four times is rapidly biting the dust, as management faces up to the consequences for the business of the deteriorating economic outlook.The up-market department store chain yesterday said it expected growth in sales in 2009 and 2010 of between zero and one per cent. Management expects two or three quarters of flat or negative growth during this period, a forecast that's notable because David Jones is the first major retailer (or any large company) to take such a bleak stand in relation to its revenue forecast.The historic data for David Jones half year to January 2008 shows that earnings before interest and tax on its financial services business increased six per cent to $18.4 million.Receivables increased three per cent to $422 million over the year to January, but only equal to the level of receivables two years ago.American Express will take over funding, and issuing, of the David Jones store cards from late in 2008.