Dillard’s earnings up 24%

by The City Wire staff ([email protected]) 111 views 

Dillard’s, Inc. reported first quarter net income of $95 million, a 24% increase from a year ago when the upscale retailer reported profit of $76.7 million.

Little Rock-based Dillard’s saw first quarter revenues rise 5.6% to $1.55 billion. Same store sales were up 5% during the quarter.

Dillard’s is traditionally light on commentary regarding its quarterly performance. CEO William T. Dillard said, “We are happy to report a very strong start to 2012 with our seventh consecutive quarter of increased same store sales as well as record setting earnings and earnings per share performances.”

The company did note that sales were strong in all merchandise categories “with the exception of the home and furniture and juniors’ and children’s apparel categories.” Sales trends were strongest in ladies’ accessories and lingerie, followed by shoes, men’s apparel and accessories, and cosmetics, Dillard’s said.

Dillard’s shares (NYSE: DDS) closed trading on Thursday (May 10) at $66.19.  During the past 52 weeks, the company’s stock has traded between a low of $38.99 and a high of $67.22.