Dillard's reports flat same-store sales growth in Q1

Dillard’s reported net income for the 13 weeks ended May 4, 2019 of 78.6 million dollars or 2.99 dollars per share compared to 80.5 million dollars or 2.89 dollars per share, for the prior year first quarter. The company said, net sales for the quarter were 1.465 billion dollars compared to 1.458 billion dollars for same period last year, while the company said sales in comparable stores for the period remained unchanged on a percentage basis.

Total merchandise sales reached 1.421 billion dollars compared to 1.411 billion dollars for the quarter ended May 5, 2018, representing an increase of 1 percent. In relation to the total company sales performance, Dillard’s said in a statement, sales were strongest in juniors' and children's apparel followed by home and furniture and men's apparel and accessories. Below-trend performances were noted in shoes and cosmetics. Sales were strongest in the eastern region followed by the central and western regions, respectively.

The company added that gross margin from retail operations declined 141 basis points of sales compared to the prior year first quarter primarily due to increased markdowns, while consolidated gross margin for the period declined 134 basis points of sales.

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