Shares of Dillard’s Inc. fell more than 6 percent Monday after the department store operator reported the fiercely promotional climate led to declines in earnings, margins and even net sales during the fourth quarter.
In the 13 weeks ended Feb. 1, the Little Rock, Ark.-based department store operator’s net income declined 26.2 percent to $119.1 million, or $2.71 a diluted share, from $161.4 million, or $3.36, in the 14-week quarter of 2012. Excluding a series of special items in both periods, profits fell 14 percent to $118.3 million, or $2.69 a share, from $137.6 million, or $2.87 a share, in the prior-year quarter.
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