Dillard's Net Jumps 159 Percent in Second Quarter

LITTLE ROCK, Ark.-Dillard's enjoyed a whopping 159 percent boost in net income in its second quarter, to $17.6 million.

The department store retailer's profit rose thanks to pretax gains relating to the sale of an interest in a mall joint venture and on the sale of a store building. Net sales also helped a little by increasing 3.8 percent to $1.4 billion, including a healthy same-store sales gain of 6 percent.

Gross margin in the quarter, which ended on July 30, rose 20 basis points to 33.2 percent. Advertising, selling, general and administrative expenses edged up 1 percent in dollars and declined 70 basis points as a percentage of sales, to 27.5 percent.

William Dillard II, Dillard's CEO, said the second-quarter numbers "solidified a very successful first half of 2011. While we are monitoring the macro-economic environment closely, we will continue to work to create clear distinction at Dillard's with enhanced service levels to match our improving merchandise mix."

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

  • Patti Carpenter Talks Color and its Importance in the Home

    Camera Icon   More Videos

Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN August 2017 cover

    HFN's DIGITAL EDITION

    August 2017


    COVER STORY: Sharpening the Focus on Millennials

    Find out what makes Millennials tick when it comes to home decorating, shopping and at-home entertaining with HFN's annual consumer study. Turns out, Millennials favor the in-store shopping experience.


    ALSO IN THIS ISSUE:

    • Power of the People - Crowdfunding campaigns provide needed capital, feedback for home and housewares product launches.
    •  Omnichannel Retailing: Visual Search Takes Off - Learn how voice and visual search are revolutionizing product discovery.