Dillard’s early summer sales trajectory goes soft

Little Rock, Ark. – Although business went slack during the second quarter, Dillard’s retail sales for the first half logged double-digit increases.

The regional department store company reported that retail sales for the 26 weeks ended July 30 rose 10% to $3.13 billion – a figure that excludes operations from the company’s CDI Contractors construction business. Comp sales were also up 10%.

“Business softened in the [2nd] quarter as we lapped the strongest second quarter in our history. Our first half performance was far better than last year’s, with net income up 21%, earnings per share up 44% and gross margin up 240 basis points,” said William T.  Dillard II, company CEO.

Total retail sales for the second quarter ended July 30 ticked up 1.0% to $1.553 billion while sales in comparable stores were flat. Stronger performing categories included men’s apparel and accessories and cosmetics. Ladies’ apparel was the weakest performing category.

Q2 net income fell 12.0% to $163.4 million, or $9.30 per share.

See also:

Dillard’s turns in strong Q4

Dillard’s: Home goods take a back seat as apparel surges