Dillard's earnings up on better margins
Retail Editor 1 -- Home Textiles Today, August 15, 2013
Little Rock, Ark. - Dillard's earnings per share jumped 25% during the second quarter, propelled in part by a merchandise gross margin improvement of 10 basis points of sales.
Home and furniture, however, were among the weakest categories during the period.
Net income for the quarter ended Aug. 3 rose 18% to $36.5 million, or 79 cents per share.
Merchandise sales, which excludes the company's CDI Contractors construction business, eked up 0.2% to $1.459 billion. Comps rose 1.0%.
"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 ceo William Dillard II.
Year-to-date, net income shot up 22% to $153.7 million, or $3.30 per share.
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