Dillard’s posts Q2 earnings per share of 8.81 dollars

Dillard’s reported net income for the second quarter of 185.7 million dollars or 8.81 dollars per share compared to a net loss of 8.6 million dollars or 37 cents per share, for the prior year second quarter.

Commenting on the second quarter results, Dillard’s Chief Executive Officer William T. Dillard, II stated: “The strong consumer demand we saw in the first quarter continued throughout the second quarter. This momentum, combined with our continuing focus on inventory and expense control, produced a sequential record performance.”

Dillard’s retail sales increase by 72 percent

Net sales for the quarter were 1,570.4 million dollars compared to 919 million dollars last year. The company’s total retail sales which excludes CDI were 1,539.4 million dollars against 893.2 million dollars.

Total retail sales increased 72 percent for the quarter. The company said in a statement that sales in ladies’ apparel and shoes significantly outperformed other merchandise categories during the quarter.

Compared to the second quarter of 2019, total retail sales for the quarter ended July 31, 2021 and August 3, 2019 were 1,539.4 million dollars and 1,378.2 million dollars, respectively, an increase of 12 percent. Comparable store retail sales compared to the second quarter of 2019 increased 14 percent.

Consolidated gross margin which includes CDI improved to 41 percent compared to 30.4 percent for the prior year second quarter.

Dillard’s reports H1 net income of 343.9 million dollars

For the first half period, Dillard’s reported net income of 343.9 million dollars or 16.03 dollars per share compared to a net loss of 170.5 million dollars or 7.33 dollars per share, for the prior year 26-week period.

Net sales for the period were 2,898.9 million dollars compared to 1,705.7 million dollars, while total retail sales rose 72 percent to 2,836.1 million dollars. Compared to the first half of 2019, total retail sales increased 1 percent. Comparable store retail sales for the first half of 2021 compared to the first half of 2019 increased 4 percent.

Consolidated gross margin for the first half improved to 41.3 percent compared to 22.1 percent for the prior year 26-week period.

During the second quarter, the company closed its Paradise Valley Mall location in Phoenix, Arizona and plans to close its clearance center at Valle Vista Mall in Harlingen, Texas during the third quarter. Dillard’s plans to open its new location at Mesa Mall in Grand Junction, Colorado during the third quarter.

The company operates 249 Dillard’s locations and 31 clearance centers spanning 29 states.