Dillard’s reports lower sales, income for quarter and year
by February 25, 2025 7:47 am 260 views
Dillard’s Inc. on Tuesday (Feb. 25) reported lower quarterly sales and net income in its fourth quarter, which also weighed on annual revenue and profits.
The Little Rock-based upscale retailer posted net income of $214.4 million, or $13.48 per share, in its fourth quarter ended Feb. 1, compared to $250.5 million, or $15.44 per share, in its fourth quarter one year ago. Net sales for the 13 weeks were $2.01 billion versus $2.12 billion one year ago. Net sales includes the operations of the company’s construction business, CDI Contractors.
“With sales down 1%, we worked on controlling expenses but lost some steam in gross margin,” said Dillard’s CEO William T. Dillard II.
For the full year, Dillard’s reported net income for the 52 weeks ended Feb. 1 of $593.5 million, or $36.82 per share, compared to $738.8 million, or $44.73 per share, one year ago. Net sales for the 52 weeks were $6.48 billion versus $6.75 billion in the previous year.
Other financial highlights for the year include:
- Comparable store sales decreased 3% annually;
- Retail gross margin of 41% of sales compared to 41.8% of sales one year ago;
- Operating expenses were $1.73 billion for the year versus $1.71 billion in the previous year.
Dillard’s (NYSE: DDS) shares closed trading Monday at $480.15, but were lower in pre-market activity. The company’s stock has traded between $328 per share and $510 per share over the past 52 weeks.
