The third quarter saw Dillard’s sales and earnings beat Wall Street expectations with home products among key contributors during the period.
Dillard’s reported net income of $187.9 million, or $10.96 per share, versus $197.3 million, or $9.81 per share, for the year-before quarter. The company easily beat an analyst consensus estimate of $5.85 published by Yahoo Finance, as well as a revenue estimate of $1.48 billion.
Net sales were $1.54 billion versus $1.48 billion in the year-prior quarter, while total retail sales were $1.5 billion versus $1.46 billion. Comparable sales increased 3%. Stronger-performing merchandise categories included cosmetics, men’s apparel and accessories, home and furniture, and shoes, Dillard’s noted. Juniors’ and children’s apparel were the weakest performing categories, according to Dillards.
In the third quarter, Dillards closed locations in Wichita Falls, TX, and St. Joseph, MO. The company is in the process of opening a newly remodeled, replacement building at Westgate Mall in Amarillo, TX. Dillards operates 249 namesake department stores and 28 clearance centers across 29 states and an e-commerce site at dillards.com.
