Dillard’s ends 2021 on strong note

Dillard’s Inc. reported strong sales and profits as the Little Rock-based department store chain and online retailer tightened its margins.

For the fourth quarter ended Jan. 29, 2022, Dillard’s reported net income of $321.2 million, or $16.61 per share, compared to net income of $67.0 million, or $3.05 per share, for the prior year fourth quarter.

Net sales for the fourth quarter were $2.113 billion compared with $1.57 billion a year ago. Dillard’s said “continued strong consumer demand” and “better inventory management” led to decreased markdowns in the fourth quarter of 2021.

For the full fiscal year, Dillard’s posted net income of $862.5 million, or $41.88 per share, compared to a net loss of $71.7 million, or $3.16 per share, a year ago. Net sales for the year ended Jan. 29, 2022 were $6.493 billion compared to $4.301 billion, one year ago.

“We ended fiscal 2021 on a very strong note with a fourth consecutive record quarter. Our fiscal year net income of $41.88 per share exceeds any annual performance in our history. Importantly, during the year, we returned $866 million to our shareholders through dividends and share buyback, while still ending the year with $717 million in cash,” said Dillard’s CEO William T. “Bill” Dillard, II.

Dillard’s said it was not reporting comparable store sales data for the fiscal year due to COVID-19 store closures in the first and second quarters of 2020. The company operates 250 Dillard’s locations and 30 clearance centers in 29 states.

Shares of Dillard’s stock (NYSE: DDS) closed trading Tuesday at $232.92. The company’s stock has traded between a low of $77.61 per share and a high of $416.71 per share over the past 52 weeks.