Dillard's Net Climbs 14.1 Percent in Q4
February 25, 2013,
LITTLE ROCK, Ark.-In what CEO William Dillard II called "a strong finish to a very successful year," Dillard's posted net income of $161.4 million in its fourth quarter, up 14.1 percent over last year's fourth quarter.
For the fiscal year ending on Feb. 2, the department-store retailer reported a drop of 27.6 percent in net income to $336 million. This was largely due to its income taxes for the year, which totaled $145.1 million, as opposed to an income-tax benefit of $62.5 million recorded for last year.
In the quarter, Dillard's bottom line was bolstered by 50 basis-point gain in gross margin to 34.4 percent. Selling, general and administrative expenses were up 7.7 percent in dollars and 10 basis points as a percentage of sales, to 22.5 percent.
"As we mark our 75th year at Dillard's this month, we are proud of our progress and excited about the future," Dillard said.
Other Articles By Author
HFN Launches Interactive Idea Book
HFN's DIGITAL EDITION
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