Dillard’s Surprises With 73% Sales Spike

Dillard’s posted a 73% year-over-year increase in retail sales, to $1.3 billion, for the first quarter. The company had a record performance on earnings and gross margin, the latter of which leaped to 41.7% from 12.5% last year, CEO William Dillard said in a press release. The retailer’s performance compares to a miserable Q1 2020 for the sector but still handily beat analyst expectations. Compared to the pre-pandemic period (2019), Dillard’s retail sales remain down nearly 9%, with comparable sales down 6%. Read more at Retail Dive.