Dillard's 1Q Profit Down 30 Percent

by Arkansas Business Staff  on Wednesday, May. 23, 2007 8:41 am  

Dillard's Inc. of Little Rock on Wednesday reported first-quarter profit to $42.9 million -- a 30 percent drop from the $61.3 million it reported during the same quarter last year.
Net income was 53 cents a share, down from 77 cents a share during the same quarter last year. Analysts had expected net income of about 72 cents a share.
Shares of Dillard's (NYSE: DDS) were trading at $37.95 on Wednesday after closing at $39.65 on Tuesday.
Net sales for the quarter ended May 5 were $1.76 billion compared to sales for the quarter ended April 29, 2006, of $1.84 billion. Total net sales declined 4 percent during the quarter. Same-store sales dropped 5 percent.
During the quarter, Dillard's said net sales were strongest in its Western region, where performance exceeded the company's total trend. Net sales were slightly above trend in the Eastern region and slightly below trend in the Central region.
Dillard's also said net sales of shoes significantly outperformed the average company performance trend, but sales of juniors' and children's clothing declined significantly more than trend during the period.



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