Dillard’s Inc. profits gained solidly in the fourth quarter, but investors were hoping for a little more and the stock fell 9.4 percent Monday.
The retailer’s net income increased 14.1 percent in the quarter to $161.4 million, or $3.36 a diluted share, from $141.5 million, or $2.77, a year ago. Revenues for the 14 weeks ended Feb. 2 gained 7.1 percent to $2.15 billion from $2.01 billion. The most recent fiscal quarter included one extra week compared with a year earlier. Stripping out the extra week, comparable-store sales rose 3 percent.
Excluding special items, including a gain on the sale of a store as well as store closing costs and a onetime tax deduction, Dillard’s fourth-quarter profits rose 22 percent to $137.6 million.
Adjusted earnings per share, which were boosted further by share buybacks, rose 29.9 percent to $2.87 — that’s 2 cents shy of the $2.89 expected on average by the two stocks analysts who follow the department store.
Dillard’s stock fell $8 to close at $76.92.
William T. Dillard 2nd, chief executive officer, was bullish on the company’s results and its prospects.
“Our positive sales performance and gross margin expansion combined with expense control drove strong cash flow throughout the year,” he said. “As a result, we were pleased to return cash to shareholders in the form of a $5 special dividend during the fourth quarter. Additionally, we purchased $185.5 million of Class A common stock during the year. As we mark our 75th year at Dillard’s this month, we are proud of our progress and excited about the future.”
Dillard’s has been working hard to modernize its operations and reposition itself as a department store with higher-end goods and an emphasis on service.
For the full year, Dillard’s net earnings fell 27.6 percent to $336 million, or $6.87 a diluted share, from $463.9 million, or $8.52, the prior year. Adjusted earnings rose 34.8 percent to $309.3 million.
Revenues for the fiscal year increased 5.4 percent to $6.75 billion from $6.41 billion.
“What he has done at Vuitton is really exceptional,” said @gameofthrones’ actress Gwendoline Christie on @mrkimjones’ final show for @louisvuitton. “He has rebooted luxury in terms of making it commercial, viable and contemporary. And most importantly artistic. He has never compromised his artistic vision for the sake of commodity.” (📷: @zefashioninsider)
After seeing a demand for men’s wear from its customers, British contemporary women’s wear label @ariesarise has added a men’s wear component and will launch a unisex collection with @mrporterlive. The 20-piece collection includes jackets, denim, logo T-shirts and more with deconstructed ‘90s vibes. Set to launch on January 18, you can shop the pieces on Aries’ website and on mrporter.com. #wwdfashion
“And so spending so much time with a character who thinks like that, inevitability you try and analyze yourself and go back and think about your own demons and dark chapters that you had in your life,” says @thedanielbruhl of his role in TNT’s “The Alienist.” The show, set in the Gilded Age of New York, also stars Dakota Fanning and Luke Evans. Head to WWD.com to read about how 39-year-old Brühl prepared for the role and why he thinks the show is so relevant to today #wwdeye ( 📷: @Eriktanner)
Now that Celine Dion’s collection has topped $10 million in sales, the pop superstar, fashion icon and newly-minted industry player is eyeing growth in Asia. Read the full report by @tiffanyap, link in bio. #wwdnews #celinedion
“My personal philosophy to beauty is paying attention to oneself. I love to be outdoors, lots of fresh air, trying to take care of yourself as best you can. I always notice that comes through,” says Felicity Jones, the global face of @shiseido-owned @cledepeaubeauteus, which launches today. Head to WWD.com to read more about the actress’ love for beauty and how she prepared for her new role in “The Basis of Sex,” playing the young Ruth Bader Ginsburg. #wwdbeauty (📷: @dandoperalski)
Among the familiar faces at @off____white’s show was a surprise figure: Japanese artist @takashipom, pictured here on Wednesday morning. Other show-goers included @jerrylorenzo, who spoke about his upcoming project: a @nike collaboration for back to school, with designs inspired by his childhood on the West Coast. Sitting in the front row were Future, Don Crawley, @miguel and more. See the rest of the photos on WWD.com #wwdeye (📷: Stephane Feugere)
According to @laurentsai, former “Terrace House: Aloha State” cast member, she didn’t know she was auditioning for the Japanese version of “Real World.” “I was telling a couple of my friends and someone’s like, ‘That sounds a lot like Terrace House.’ I was like, ’No it can’t be.’” Turns out, it was. But Tsai isn’t just a reality star — she’s an illustrator who has worked with Starbucks Japan and most recently, she’s dipping her toes into the fashion world. Head to WWD.com to read about her time on the show, modeling and her art. #wwdeye (📷: @danieldorsa)
More changes are coming to New York Fashion Week: Beginning with the spring 2019 collection, @alexanderwangny will move his New York show to June from September, adopting a biannual schedule with collections shown in June and December. Additionally, the @cfda is planning for an official summer/winter fashion season taking place as soon as June and December 2018. Read more about the upcoming changes on WWD.com. #wwdnews #wwdfashion (📷: @slovekinpics)