Q4 Propels Dillard’s To Strong Profits

Dillard’s, Inc. reported higher sales and higher profits as a strong fourth quarter boosted full year earnings.

The Little Rock-based upscale mall retailer reported fourth quarter net income of $109.6 million, up 38% from a year ago. Fourth quarter sales were $1.93 billion, a $100 million improvement from $1.83 billion in 2010’s comparable quarter.

Same-store sales for the fourth quarter were up 7%.

For the full year, Dillard’s net income of $179.6 million on sales of $6.12 billion. One year ago, the retail chain recorded profits of $68.5 million on sales of $6.09 billion.

“Our fourth quarter results underscore a year of progress at Dillard’s," said CEO William T. Dillard. "We began 2010 well positioned to achieve notable results, and we remained focused on our core initiatives throughout the year. We executed disciplined inventory management and controlled our expenses while seeking clear distinction in the mind of the fashion consumer."

Dillard’s also repurchased 4.6 million shares of its Class A common stock valued at $160 million during the fourth quarter. For the year, it repurchased $413.9 million worth of company stock.

Dillard’s stock closed Tuesday’s trading at $40.45 per share.

"We are energized by these results, and we are excited about the future of Dillard’s,” said Dillard.