Dillard's Reports Net Income for Fourth Quarter

LITTLE ROCK, Ark.-Reversing a net loss of $149.3 million from last year, Dillard's posted net income of $79.5 million in the fourth quarter.

In a statement from the department-store retailer, William Dillard II, chairman and chief executive officer, attributed the turnaround to the company's "disciplined approach" to expenses, inventory and debt. Dillard's slimmed its advertising, selling, administrative and general expenses by 10.8 percent and benefited from a gross-margin improvement of 820 basis points to 33 percent. Dillard also cited "notable year-over-year reductions in inventory and debt."

Net sales for the quarter fell 10.1 percent to $1.8 billion, which included a drop in same-store sales of 8 percent.

For the fiscal year as a whole, Dillard's reported net income of $68.5 million, compared to a net loss of $241.1 million for the prior fiscal year. Net sales for the fiscal year totaled $6.1 billion, down 10.8 percent.

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.

Videos

Current Issue

  • HFN May digital issue

    HFN's DIGITAL EDITION

    May 2017


    COVER STORY: HFN Turns 90

    We commemorate HFN's 90th anniversary by paying tribute to the iconic retailer and supplier brands--and the people--that have helped the industry flourish, then and now.


    ALSO IN THIS ISSUE:

    • Up & Coming Leaders - The home industry is in capable and visionary hands as this year’s 40 Under 40 list attests. Today’s young leaders span all disciplines and varied levels of operation.
    • Omnichannel Retailing - In the Mobile App World, Time is Money