Home / Knowledge / News / Apparel/Garments / Dillard's doubles earnings per share in Q3 FY'12
Dillard's doubles earnings per share in Q3 FY'12
16
Nov '12
Dillard's Inc. announced operating results for the 13 weeks ended October 27, 2012.

Highlights of the Company's performance included:

  • A 100% increase in third quarter earnings per share compared to the prior year
  • A 5% increase in comparable store sales for the third quarter
  • Third quarter merchandise gross margin improvement of 40 basis points of sales
  • Operating expense leverage of 140 basis points of sales for the third quarter
  • Cash flow from operations of $219.9 million compared to $135.6 million for the year to date period

Third Quarter Results

Dillard's reported pretax income for the 13 weeks ended October 27, 2012 of $72.7 million, an 84% increase over the pretax income for the 13 weeks ended October 29, 2011 of $39.5 million.

Dillard's reported net income for the 13 weeks ended October 27, 2012 of $48.5 million, or $1.01 per share. Included in net income are the following items:

  • A $0.7 million after tax gain ($0.01 per share) related to the sale of two former retail store locations.
  • approximately $1.7 million ($0.04 per share) in tax benefit due to the reversal of a valuation allowance related to a deferred tax asset consisting of a capital loss carryforward

Dillard's reported net income for the prior year third quarter, the 13 weeks ended October 29, 2011, of $228.2 million, or $4.31 per share. Included in net income for the prior year third quarter is a net after-tax credit totaling $202.5 million ($3.83 per share) comprised of the following items:

  • approximately $201.6 million ($3.81 per share) in tax benefit due to the reversal of a valuation allowance related to a deferred tax asset consisting of a capital loss carryforward
  • a $0.9 million after tax gain ($0.02 per share) related to the sale of two former retail store locations

Dillard's Chief Executive Officer, William T. Dillard, II, stated, "Driven by a strong 5% sales increase, we were able to double our earnings per share for the third quarter on top of a record performance last year (after non-routine items). We are pleased with our gross margin improvement and expense control during the quarter as well as with our ending inventory level. We are entering the holiday season confidently based on these strong results and we look forward to serving our customers at the highest possible level in the coming weeks."

39-Week Results

Dillard's reported pretax income for the 39 weeks ended October 27, 2012 of $268.0 million, a 49% increase over the pretax income for the 39 weeks ended October 29, 2011 of $179.5 million.


Must ReadView All

Apparel/Garments | On 25th Jun 2017

Half of 7,000 new apparel online each day target women

Adobe has released its first Digital Price Index for apparels,...

Textiles | On 25th Jun 2017

First Insight, Chico's FAS enter partnership

First Insight, a technology company transforming how retailers make...

Apparel/Garments | On 25th Jun 2017

Expand changing use of social and web resources

With over 400 million impressions to date and web traffic of over two ...

Interviews View All

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search