Home / Knowledge / News / Apparel/Garments / Dillard's net income plunges in Q4 FY'14
Dillard's net income plunges in Q4 FY'14
25
Feb '14
Dillard’s, Inc. announced operating results for the 13 and 52 weeks ended February 1, 2014 including record fiscal year earnings per share adjusted for certain items of $6.99 versus $6.33 in the prior year.
 
Fourth Quarter Results
Dillard’s reported net income for the 13-week period ended February 1, 2014 of $119.1 million ($2.71 per share) compared to net income of $161.4 million ($3.36 per share) for the 14 weeks ended February 2, 2013. 
 
Included in net income for the 13-week period ended February 1, 2014 is an after tax credit of $0.8 million ($0.02 per share) representing the reversal of asset impairment charges on a store held for sale. Excluding this item, Dillard’s would have reported $118.3 million ($2.69 per share) for the 13-week period ended February 1, 2014.
 
Included in net income for the prior year 14-week period ended February 2, 2013 is a net after-tax credit totaling $23.9 million ($0.50 per share) comprised of the following items:
a $6.8 million after-tax gain ($0.14 per share) related to the sale of a former retail store location
after-tax asset impairment and store closing charges of $1.1 million ($0.02 per share)
approximately $18.1 million ($0.38 per share) in tax benefit due to a one-time deduction related to dividends paid to the Dillard’s, Inc. Investment and Employee Stock Ownership Plan
 
Excluding these items, Dillard’s would have reported $137.6 million ($2.87 per share) for the 14-week period ended February 2, 2013.
 
Dillard’s Chief Executive Officer, William T. Dillard, II, stated, “Although it was a profitable fourth quarter, we are disappointed in our gross margin performance, as lower than anticipated sales necessitated heavier markdowns. We are pleased with our expense control as well as with our strong cash flow for the year.”
 
Click here to view full results 
 

Dillard's

Must ReadView All

Courtesy: Nifttea

Textiles | On 27th Jul 2016

NIFT-TEA to develop waterless cotton dyeing machine

The NIFT-TEA Knitwear Fashion Institute is working in collaboration...

Textiles | On 27th Jul 2016

HK traders fear Brexit fallout

Hong Kong traders, regardless of sector, may have been left reeling...

Textiles | On 27th Jul 2016

Kraig Biocraft takes possession of Indiana property

Developer of silk based fibres Kraig Biocraft Laboratories has...

Interviews View All

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Mark Paterson
Technical Absorbents Ltd

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

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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
june 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search