Mall retailer Dillard’s capped off a solid fiscal year with January sales rising six percent.
Retail outlets typically operate on a February-January fiscal year to capture post-holiday sales in their final numbers.
Dillard’s reported sales for the four weeks ended January 29, 2011 of $376 million, up from $353.9 million in January 2010. The six percent increase in monthly sales was mirrored by same-store sales, which also climbed six percent higher.
More impressively, Dillard’s ended its fiscal year with merchandise sales of $6.02 billion, a two percent increase over sales of $5.89 billion one year ago. Same-store sales rose by three percent as the Little Rock-based upscale retailer punctuated a turnaround in its once-struggling sales.
Dillard’s has been streamlining its corporate operations and closing underperforming stores for nearly two years as it found new footing in a difficult retail economy.
The company will report fourth quarter and full-year earnings later this month. In its most recent quarter, Dillard’s posted profits of $14.4 million. Its once-anemic stock scored one of the biggest improvements in 2010. Dillard’s shares began 2010 trading in the $18 range, but has topped $40 per share as recently as this week.