Dillard's Net Jumps 159 Percent in Second Quarter
August 12, 2011,
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.
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."
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