Dillard's Net Kicks Up 85 Percent in Third Quarter
November 11, 2011,
LITTLE ROCK, Ark.-In a record-breaking result, Dillard's posted net income of $26.6 million in the third quarter, a resounding 85 percent ahead of its third-quarter profit from last year.
As explained by CEO William T. Dillard II, the department-store retailer benefited from a healthy sales performance and its ability to control and leverage expenses. Net sales rose 2.9 percent to $1.4 billion, which included a 5 percent increase in same-store sales.
"This record-setting third-quarter performance further solidifies our confidence in our strategy as we enter the holiday season," Dillard said.
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