Dillard’s posts Q1 profit

Dillard’s reported first quarter net income of 158.2 million dollars or 7.25 dollars per share compared to a net loss of 162 million dollars or 6.94 dollars per share, for the prior year first quarter.

Net sales for the 13 weeks were 1,328.5 million dollars compared to 786.7 million dollars in the previous year’s first quarter. Total retail sales excluding CDI were 1,296.7 million dollars compared to 751 million dollars, while total retail sales increased 73 percent for the quarter under review.

Commenting on the first quarter trading, Dillard’s chief executive officer William T. Dillard, II stated: “As vaccinations increased, stimulus money was released and warmer weather arrived, we saw sales increase over 2019 levels, with momentum continuing throughout the quarter. We are pleased to report record performances in gross margin and earnings per share.”

The company said that stronger performing categories were juniors’ and children’s apparel, men’s apparel and accessories and ladies’ accessories and lingerie.

Comparing to the first quarter of 2019, total retail sales for the quarter were 1,296.7 million dollars, a decrease of 9 percent. Retail sales in comparable stores declined 6 percent.

Consolidated gross margin including CDI improved significantly to 41.7 percent compared to 12.5 percent for the prior year first quarter.

The company operates 250 Dillard’s locations and 31 clearance centers spanning 29 states.