Dillard’s second-quarter net income increased to $36.5 million, or 79 cents a diluted share, from $31 million, or 63 cents, a year earlier. Earnings came in 5 cents ahead of the 74 cents analysts projected.
Total revenues, which include the company’s CDI Contractors construction business, fell 0.6 percent to $1.52 billion for the three months ended Aug. 3. Comparable-store sales increased 1 percent.
Gross margins in the company’s retail operations improved 10 basis points to 34.4 percent of sales for the quarter.
“Following a strong start to the year, we made further progress in the second quarter,” said William T. Dillard 2nd, chief executive officer. “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.”
For the first half, Dillard’s profits rose 22 percent to $153.7 million, or $3.30 a diluted share, on a 0.2 percent drop in revenues, to $3.11 billion.
Alberta Ferretti's "Rainbow Week" sweaters are back. The designer closed her #MFW show with a few day-of-the-week sweaters, which first debuted on the catwalk last January as part of the pre-fall 2017 collection. #wwdfashion (📷: @delphineachard)