Dillard’s narrows loss
August 19, 2005-- Home Textiles Today,
LITTLE ROCK, Ark. -- Dillard’s, Inc. reported a net loss for the second quarter of $12.3 million, a marked improvement against last year’s loss of $26 million.
The company stated that the improvement was attributable to positive comps, improved gross margin performance, decreased advertising, selling, general and administrative expenses and decreased interest expense.
Included in the loss were pretax asset impairment and store closing charges of $6 million.
Net sales for the period were up 1 percent, to $1.69 billion from $1.67 billion a year ago. Comps also improved 1 percent.