Dillard’s Q1 comparable store sales up 2 percent

REPORT_ Dillard’s has reported earnings per share of 2.56 dollars versus

2.50 dollars in the first quarter, ended May 3, 2014. Company reported a 2 percent increase in comparable store sales.

Commenting on the results, Dillard's Chief Executive Officer, William Dillard, II, stated, “We reported record earnings per share of 2.56 dollars compared to 2.50 dollars. Our 2 percent comparable store sales increase marks our 15th consecutive quarter of positive sales. Additionally, we executed 65.9 million dollars of share buyback as a result of our strong cash flow.”

Dillard’s reported net income for the 13-week period ended May 3, 2014 of 111.7 million dollars (2.56 dollars per share) compared to net income of 117.2 million dollars (2.50 dollars per share) for the 13 weeks ended May 4, 2013. Total merchandise sales for the 13-week period ended May 3, 2014 were 1.539 billion dollars and 1.530 billion dollars for the 13-week period ended May 4, 2013. Total merchandise sales increased 1 percent for the first quarter.

Sales trends for the first quarter were strongest in the men's apparel and accessories category and the juniors' and children's apparel category followed by ladies' accessories and lingerie. Sales were weakest in home and furniture. Sales trends were strongest in the Central region, followed by the Eastern and Western regions, respectively. Net sales were 1.551 billion dollars and 1.549 billion dollars for the 13 weeks ended May 4, 2013.

Gross margin from retail operations (which excludes CDI) decreased 14 basis points of sales. Consolidated gross margin remained unchanged as a percentage of sales at 39.5 percent.