Dillard’s posts sales and earnings growth

Dillard’s, Inc. fourth quarter comparable retail sales increased 37 percent to 2.078 billion dollars, while comparable retail sales increased 12 percent compared to the fourth quarter of 2019.

The company reported net income of 321.2 million dollars compared to net income of 67 million dollars or 16.61 dollars per share compared to 3.05 dollars per share.

Commenting on the results, Dillard’s chief executive officer William T. Dillard, II stated: “Our fiscal year net income of 41.88 dollars per share exceeds any annual performance in our history. Importantly, during the year, we returned 866 million dollars to our shareholders through dividends and share buyback, while still ending the year with 717 million dollars in cash.”

Review of Dillard’s Q4 and full year results

Net sales for the 13 weeks ended January 29, 2022 and the 13 weeks ended January 30, 2021 were 2.113 billion dollars and 1.570 billion dollars, respectively.

Consolidated gross margin for the quarter improved 40.8 percent of sales compared to 31.1 percent of sales for the prior year fourth quarter.

For the full year total retail sales increased 53 percent to 6.375 billion dollars and comparable retail sales increased 8 percent compared to fiscal year 2019.

Net income was 862.5 million dollars compared to a net loss of 71.7 million dollars or 41.88 dollars per share compared to a net loss of 3.16 dollars per share.

Net sales for the 52 weeks were 6.493 billion dollars compared to 4.301 billion dollars in the previous year.

Consolidated gross margin for the year improved to 42.3 percent of sales from 28.6 percent of sales for the prior year 52-week period.