Dillard's delivers 97% EPS growth
LITTLE ROCK, Ark. — Dillard's posted an impressive 97% increase in earnings per share for its second quarter ended July 28. Net income for the quarter was $31 million, or 63 cents per diluted share, compared with net income of $17.6 million, or 32 cents per diluted share, for the same period last year.
Net sales for the quarter were $1.5 billion compared with net sales for the prior year period of $1.442 billion. Sales in comparable stores increased 3%.
Sales trends were strongest in ladies’ accessories and lingerie, followed by shoes and cosmetics. Weakest performing categories were home and furniture and juniors’ and children’s apparel. Sales trends were strongest in the Central region, followed by the Eastern and Western regions.
Dillard’s Chief Executive Officer, William T. Dillard, II, stated, “Continuing on the momentum of a successful first quarter, we are proud to report a 97% increase in second quarter earnings per share. Our 3% sales increase combined with gross margin improvement and control of our expenses enabled us to report a notable improvement in operating results today.”
At July 28, the company operated 285 Dillard's locations and 18 clearance centers spanning 29 states and an Internet store at www.dillards.com. Total square footage at July 28 was 52.4 million.