Dillard’s sees moderate net income, sales growth in Q3
Dillard’s reported moderate growth in net income and sales during the third quarter of fiscal 2013. Compared to the same period a year earlier, net income increased 5% to $50.9 million from $48.5 million, while net sales climbed about 1% to $1.51 billion from $1.49 billion.
According to Dillard’s, sales trends were notably strong in ladies’ accessories and lingerie followed by shoes and ladies’ apparel, while sales were weakest in the home and furniture category. Sales trends were strongest in the central region, followed by the eastern and western regions, respectively.
During third quarter 2013, the company closed its Euclid Square Mall clearance location in Euclid, Ohio. Dillard’s also announced the upcoming closure of its University Mall location in Chapel Hill, N.C., and its Collin Creek location in Plano, Texas. Both locations are expected to close by the end of the fourth quarter.
As of Nov. 2, the company operated 282 Dillard’s locations and 17 clearance centers spanning 29 states and an Internet store.