NEW YORK — Dillard’s Inc.’s bottom line sank in a sea of red ink in the second quarter as negative net and same-store sales, too much inventory and heavy markdowns conspired to hammer gross margins.
For the three months ended Aug. 2, the Little Rock, Ark.-based department store chain reported a net loss of $50.4 million, or 60 cents a diluted share. Excluding one-time aftertax charges totaling $20.9 million, or 25 cents, of which 13 cents were attributable to store closings, Dillard’s EPS fell 17 cents short of the Wall Street consensus estimate.
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