Dillard's sees 4Q profits jump
March 6, 2002,
Little Rock — Launching a major earnings recovery after a long string of disappointing results, Dillard's Inc. said fourth-quarter profits jumped up by 54.5 percent, to $102.0 million from $66.0 million last year, fueled by stronger margins, lower costs and a cut in interest expense after paying off some long-term debt.
But stunted by a weak retail environment, particularly for high-price department stores, sales fell off by 4.8 percent, to $2.5 billion from $2.7 billion. Same-store sales declined by 1 percent.
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