Bottom Line Balloons for Dillard's in First Quarter
May 14, 2010,
LITTLE ROCK, Ark.-First-quarter net income for Dillard's totaled $48.8 million, a whopping 534 percent greater than last year's first quarter.
The retailer accomplished this in spite of a 1.4 percent slip in net sales, which for the quarter totaled $1.5 billion. Dillard's gross margin jumped 341 basis points to 38.3 percent, and the company trimmed 5 percent off its advertising, selling, general and administrative expenses. Although total sales declined, same-store sales in the quarter rose 2 percent.