DILLARD’S REPORTS INCREASED EARNINGS IN FIRST QUARTER
National department store chain Dillard’s has announced operating results for its first quarter, the 13 weeks which ended May 5, 2018. The company reported net income for the quarter of $80.5 million, or $2.89 per share, compared to net income of $66.3 million, or $2.12 per share, for the prior year first quarter.
Net sales for the quarter were $1.456 billion, which includes the operations of the company’s construction business, CDI Contractors, LLC (“CDI”). Total merchandise sales (which excludes CDI) were $1.409 billion, an increase of 2 percent, and comparable store sales for the period also increased 2 percent.
Sales were slightly above trend in men’s apparel; in addition, sales were strongest in the Western region, followed by the Eastern and Central regions.
“Our positive sales momentum continued into the first quarter, and we believe this indicates our customer is more comfortable spending in this economic environment, and we hope the positive trend continues,” said CEO William Dillard III.
Dillard’s operates 267 Dillard’s locations and 25 clearance centers spanning 29 states and an Internet store at www.dillards.com.
