Aided by strength in home and furniture, among other categories, Dillard’s posted mixed results in the first quarter. During the 13-week period, ended May 4, net Income slipped 2.7 per cent to $78.6 mn from $80.5 mn a year ago. Earnings per diluted share were $2.99 versus $2.89. Net sales inched up 0.5 per cent to $1.47 bn from $1.46 bn, and included the operations of the company’s construction business, CDI Contractors, LLC. Total merchandise sales (excluding CDI) were slightly better – up 0.7 per cent to $1.42 bn versus $1.41 bn. Comparable store sales were flat compared to a 2 per cent increase last year.
Aside from home and furniture, other strong businesses in the quarter included apparel for juniors, children and men as well as accessories. Below-trend categories were shoes and cosmetics.
Regionally, sales were strongest in the East, Central and West. Dillard’s ended the quarter with 261 stores and 28 clearance centers across 29 states plus its e-commerce site.