Dillard’s Lifts Revenue, Profits In Q3

Dillard’s, Inc. grew sales and profits as it heads into the crucial holiday shopping season.

The Little Rock-based upscale retailer posted net income of $50.9 million on revenue of $1.51 billion in its most recent third quarter.

One year ago, Dillard’s reported net income of $48.5 million on revenue of $1.49 billion.

Same-store sales during the quarter also pushed higher by one percent.

“Another positive comparable store sales increase and expense control highlighted our third quarter at Dillard’s, as did our aggressive execution of $187 million of share buyback,” said CEO Bill Dillard.

“In spite of a somewhat disappointing 30 basis point decline in merchandise gross margin, we were pleased to deliver increased net income. As we enter our 75th anniversary holiday season, we are looking forward to serving our customers nationwide at an exceptional level.”

Shares of Dillard’s pushed higher on Thursday trading above $90. For the past year, Dillard’s shares have traded in the range of $75.33 to $94.86.