Dillard’s maintains momentum in 2Q

LITTLE ROCK, Ark. — Strength in ladies accessories and lingerie contributed to a 1% second quarter same store sales increase that helped Dillard’s exceed profit forecasts.

Total merchandise sales, adjusted to exclude CDI, were $1.46 billion — unchanged on a percentage basis for the 13-week period ended August 3 compared to the same period last year. Sales were also strong in juniors and children’s apparel, but weakest in the home and furniture category followed by ladies apparel. Sales trends were strongest in the Central region, followed by the Western and Eastern regions, respectively.

Dillard’s reported net income for period was $36.5 million, or $0.79 per share compared to net income of $31 million, or $0.63 per share, for the prior-year second quarter.

“Following a strong start to the year, we made further progress in the second quarter. Positive comparable store sales and gross margin expansion combined with continued expense control enabled us to report another quarter of year over year improvement at Dillard’s,” said Dillard’s CEO William T. Dillard II.

During the quarter, the company closed its Randolph Mall location in Asheboro, N.C. As of August 3, the company operated 282 Dillard’s locations and 18 clearance centers spanning 29 states and its e-commerce site.