Home / Knowledge / News / Apparel/Garments / Q1 FY'13 sales rise marginally at Dillard's
Q1 FY'13 sales rise marginally at Dillard's
16
May '13
Dillard's, Inc. announced operating results for the 13 weeks ended May 4, 2013.

Highlights of the Company’s Performance
- A 27% increase in first quarter earnings per share compared to the prior year
- A 1% increase in comparable store sales
- Merchandise gross margin improvement of 110 basis points of sales
- A decrease in operating expenses of $3.0 million or 20 basis points of sales
- A 39% increase in cash flow from operations to $136.9 million compared to $98.5 million
- Repurchase of $114.7 million (1.4 million shares) of Class A Common Stock

First Quarter Results

Dillard’s reported net income for the 13 weeks ended May 4, 2013 of $117.2 million, or $2.50 per share. Included in net income is a net after-tax credit totaling $4.4 million ($0.09 per share) comprised of the following three items:

- A $7.6 million after tax gain ($0.16 per share) related to the sale of an investment
- A $1.0 million after tax credit ($0.02 per share) related to a pension adjustment
- After-tax asset impairment and store closing charges of $4.2 million ($0.09 per share)

Excluding this credit, Dillard’s would have reported record first quarter net income of $112.8 million ($2.40 per share) and a 27% improvement over the prior year’s record first quarter earnings per share. Dillard’s reported net income for the prior year first quarter, the 13 weeks ended April 28, 2012, of $95.0 million, or $1.89 per share.

Dillard’s Chief Executive Officer, William T. Dillard, II, stated, “We are reporting a strong start to 2013 in spite of unseasonably cool weather. Positive comparable stores sales and gross margin expansion combined with good expense control led to another quarter of record profitability at Dillard’s. We were also pleased with our strong cash flow, which enabled us to repurchase $114.7 million of Class A Common Stock.”

Net Sales

Net sales for the 13 weeks ended May 4, 2013 were $1.549 billion and $1.549 billion for the 13 weeks ended April 28, 2012. Net sales include the operations of the Company’s construction business, CDI Contractors, LLC (“CDI”).

Total merchandise sales (which exclude CDI) for the 13-week period ended May 4, 2013 were $1.530 billion and $1.522 billion for the 13-week period ended April 28, 2012. Merchandise sales in total and comparable stores increased 1% for the 13-week period ended May 4, 2013 following a 5% comparable store sales increase in the prior year first quarter.

Sales trends were strongest in ladies’ accessories and lingerie and juniors’ and children’s apparel. Sales were weakest in the home and furniture category. Sales trends were strongest in the Central region, followed by the Eastern and Western regions, respectively.

Dillard's

Must ReadView All

Courtesy: American Apparel

Apparel/Garments | On 25th Feb 2017

Gildan to make some American Apparel products outside US

Gildan Activewear, which recently acquired US fashion brand American...

Courtesy: Kolon Sport

Apparel/Garments | On 25th Feb 2017

Kolon Sport to set up JV with ANTA for Chinese market

Kolon Sport, an outdoor gear and clothing brand of Korea based Kolon...

Designer Karishma Jumani with Niraj Jawanjal, founder and director of IIFW. Courtesy: IIFW

Textiles | On 25th Feb 2017

IIFW to bring together premium lingerie brands

India Intimate fashion Week (IIFW), dedicated to showcasing the...

Interviews View All

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kevin Nelson
TissueGen

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search