Advertisement
U.S. markets closed
  • S&P Futures

    5,304.25
    -4.00 (-0.08%)
     
  • Dow Futures

    40,140.00
    -36.00 (-0.09%)
     
  • Nasdaq Futures

    18,465.00
    -38.75 (-0.21%)
     
  • Russell 2000 Futures

    2,145.20
    +6.80 (+0.32%)
     
  • Crude Oil

    83.11
    -0.06 (-0.07%)
     
  • Gold

    2,254.80
    +16.40 (+0.73%)
     
  • Silver

    25.10
    +0.18 (+0.74%)
     
  • EUR/USD

    1.0784
    -0.0009 (-0.09%)
     
  • 10-Yr Bond

    4.2060
    +0.0100 (+0.24%)
     
  • Vix

    13.01
    +0.23 (+1.80%)
     
  • GBP/USD

    1.2625
    +0.0003 (+0.02%)
     
  • USD/JPY

    151.3840
    +0.0120 (+0.01%)
     
  • Bitcoin USD

    70,834.19
    +1,422.57 (+2.05%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • Nikkei 225

    40,331.38
    +163.31 (+0.41%)
     

Dillard's 1Q profit beats expectations

Dillard's 1st-quarter profit up on credits and solid sales in stores

LITTLE ROCK, Ark. (AP) -- Dillard's Inc. reported improved first-quarter profit Wednesday, as the department store operator benefited from one-time gains and better sales in its stores.

The company, based in Little Rock, Ark., said it had a strong start to the year, despite unseasonably cool weather. Sales and margins improved, and it benefited from cost controls.

Dillard's earned $117.2 million, or $2.50 per share, for the quarter that ended May 4. That compares with $95 million, or $1.89 per share, in the first quarter of last year.

After adjusting for a $7.6 million gain from the sale of an investment and $1 million gain tied to a pension adjustment, along with $4.2 million in impairment and store closing charges, it made $2.40 per share in the recent quarter, beating the $2.11 per share that analysts polled by FactSet expected.

Revenue was flat at $1.55 billion.

Merchandise revenue, which excludes revenue from its construction business, increased to $1.53 billion from $1.52 billion. The company reported its strongest sales in ladies' accessories, lingerie, juniors' and children's apparel. Sales were weakest in home and furniture categories.

Sales in stores open at least a year rose 1 percent. This is a key indicator of a retailer's financial performance, because it excludes recently opened or closed stores.

Dillard's operated 283 stores and 18 clearance centers as of the end of the quarter.

Dillard's shares rose $1.38 to close at $89.09.

Advertisement