Dillard’s Net Jumps 80 Percent in Third Quarter

       

       

LITTLE ROCK, Ark.–Third-quarter net income for Dillard’s rose 80 percent to $14.4 million, thanks to the retailer’s efforts and inventory and expense controls.

Controls on inventory, which for comparable stores declined 2 percent, helped push up gross margin by 190 basis points to 36.3 percent. Advertising, selling, administrative and general expenses edged down 0.9 percent on a dollar basis. These factors helped offset a reduction of 1.1 percent in net sales, which finished the quarter (which ended Oct. 30) at $1.3 billion.

William T. Dillard II, Dillard’s chief executive officer, said the third-quarter performance “reflects our continuing and firm resolve to effectively manage and improve inventory, to control expenses and to seek the best uses for our strong cash flow.”

Posted in News, Retail.

Last updated: November 12, 2010