Dillard's Q1 Net Jumps 23.4 Percent

LITTLE ROCK, Ark.-Despite a flat sales performance, Dillard's increased its first-quarter net income by 23.4 percent to $117.2 million.

Cost controls keyed the department-store retailer to what CEO William Dillard II termed "record profitability" in the quarter, which ended on May 4. Selling, general and administrative expenses slipped 0.7 percent in dollars and 20 basis points as a percentage of sales, to 25.2 percent, while interest expense was cut 6.9 percent. Reduced cost of goods sold fueled a 130 basis-point gain in gross margin to 39.5 percent.

First-quarter net sales were essentially flat at $1.5 billion, with a 1 percent gain in same-store sales. Home furnishings and furniture were the weakest product categories of the period.

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

Current Issue

  • HFN May digital issue

    HFN's DIGITAL EDITION

    May 2017


    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