Dillard’s posts positive Q2 and H1 results

Second quarter comparable store sales at Dillard’s Inc., were flat, while net sales were 1.589 billion dollars compared to 1.570 billion dollars in the second quarter of the previous year

Total retail sales for the 13-week periods were 1.553 billion dollars, up 1 percent from the second quarter last year.

Net income reached 163.4 million dollars compared to 185.7 million dollars and earnings per share were 9.30 dollars compared to 8.81 dollars in the previous year’s quarter.

Commenting on the financial results, the company’s chief executive officer William T. Dillard, II stated in a statement: “Business softened in the 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 percent, earnings per share up 44 percent and gross margin up 240 basis points. We repurchased 412 million dollars of stock during the half versus 171 million dollars last year.”

For the 26 weeks, the company’s total retail sales increased 10 percent, while comparable store sales increased 10 percent. Net sales for the period were 3.200 billion dollars compared to 2.899 billion dollars last year.

Net income increased to 414.5 million dollars, while earnings per share rose to 23.07 dollars.Retail gross margin was 44.5 percent of sales compared to 42.1 percent of sales.

The company operates 250 Dillard’s locations and 29 clearance centres spanning 29 states and an Internet store at Dillards.com.