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Dillard's Q3 comparable sales up 3 percent

By Prachi Singh

Nov 15, 2018

Business

For the third quarter, Dillard’s reported net income of 7.4 million dollars or 0.27 cents per share, compared to 14.5 million dollars or 0.50 cents per share, for the prior year third quarter. Net sales for the quarter were 1.419 billion dollars compared to 1.355 billion dollars, last year. Total merchandise sales for the 13-week period increased 2 percent to 1.342 billion dollars, while sales in comparable stores for the period increased 3 percent.

Commenting on the company’s trading, Dillard’s Chief Executive Officer William T. Dillard, II, said in a statement: "While we are encouraged by our 3 percent comparable sales performance, this was a disappointing quarter as markdowns weighed heavily on gross margin, particularly in the first month. However, operating performance improved as the quarter progressed and sales turned positive. We also invested 54 million dollars in share repurchases during the quarter.”

Dillard’s, Inc. reported net income for the 39 weeks ended November 3, 2018 of 85.1 million dollars or 3.08 dollars per share compared to 63.8 million dollars or 2.14 dollars per share, for the same period ended October 28, 2017. Net sales for the 39 weeks were 4.346 billion dollars compared to 4.201 billion dollars last year, while total merchandise sales for the period were 4.162 billion dollars compared to 4.084 billion dollars last year, an increase of 2 percent. Sales in comparable stores for the period also increased 2 percent.

Picture:Dillard's website

Dillard's