Dillard’s Posts Q3 Sales and Profit Gains With Margin Expansion, Plans Plano Store Closure

Overview

• Net income rose 4.2% to $129.8 million, or $8.31 per share, for the quarter ended Nov. 1.
• Total retail sales reached $1.4 billion and comparable-store sales increased 3%.
• Retail gross margin improved to 45.3% of sales, while inventory ended the quarter up 2%.
• Women’s apparel, accessories and lingerie and juniors’ and children’s apparel posted significant growth, with moderate gains in shoes and slight increases in home, furniture, men’s and cosmetics.
• The company will close its 240,000-square-foot Willow Bend store in Plano, Texas, in January and currently operates 272 locations, including 28 clearance centers, across 30 states.