Dillard's Net Climbs 14.1 Percent in Q4

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.

Net sales posted solid increases for both the quarter and the year. Sales were $2.1 billion in the quarter, an increase of 6.9 percent and including a gain in same-store sales of 3 percent. For the year, sales rose 5.3 percent to $6.6 billion, including a same-store sales increase of 4 percent.

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.

HFN Staff | News & Commentary

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