Dillard's Q3 hoped to set pace for holidays

Little Rock, Ark. -- Dillard's Inc. managed a 4% sales increase and a 5% comp hike in its third quarter, but not thanks to home, which proved among the weakest categories along with furniture.

The 284-unit department store reported total merchandise sales (which exclude the company's construction business CDI) of $1.425 billion for the 13 weeks compared to $1.366 billion a year ago.

Sales trends were strongest in men's apparel and accessories, ladies accessories and lingerie and shoes. Geographically, the Central region led the way, followed by the Western and Eastern regions, respectively.

Dillard's third quarter net income dropped to $48.5 million, or $1.01 per share, against $228.2 million, or $4.31 per share last year. In the year-ago period, profit got a $202.5 million boost from an after-tax credit.

As Dillard's ceo William T. Dillard II explained, "Driven by a strong 5% sales increase, we were able to double our earnings per share for the third quarter on top of a record performance last year, after non-routine items...We are entering the holiday season confidently based on these strong results and we look forward to serving our customers at the highest possible level in the coming weeks."

Year to date, Dillard's total merchandise sales increased 4% to $4.403 billion compared to $4.247 billion, and comps were up by 4%.

Net income for the 39 weeks was $174.5 million, or $3.55 per share, compared to $322.4 million, or $5.80 per share - the latter of which the company explained had included a net after-tax credit totaling $205.8 million ($3.90 per share).

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • Live From New York: Fashion Comes Across the Pond

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.

CURRENT ISSUE

HTT Cover October 2017

See the October 2017 issue of Home & Textiles Today. In this issue, we look at the Top 25 Online Retailers.  H&TT's exclusive annual ranking of the biggest online sellers of home textiles finds that while pure play etailers continue to fly, bricks & clicks are digging into omnichannel. See details!