Dillard's Q2 Net Up 17.7 Percent

Dillard'sLITTLE ROCK, Ark.-Checks on expenses offset a laggard sales performance to deliver a 17.7 percent gain in net income for Dillard's in its fiscal second quarter, to $36.5 million.

Selling, general and administrative expenses declined 0.2 percent in dollars, although they rose 10 basis points as a percentage of sales to 26.9 percent. Gross margin increased 37 basis points to finish the quarter, which ended on Aug. 3, at 35.6 percent.

Net sales slipped 0.5 percent to $1.5 billion, although same-store sales increased 1 percent in the quarter. The weakest categories in the quarter, according to a Dillard's statement, were home and furniture, followed by ladies' apparel.

William T. Dillard II, Dillard's CEO, said the second quarter marked "further progress" for the retailer. "Positive comparable-store sales and gross margin expansion combined with continued expense control enabled us to report another quarter of year-over-year improvement at Dillard's," Dillard said.

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

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 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