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

Textiles | On 31st May 2016

FICCI forecasts 7.7% GDP growth for Indian economy in FY17

The results of latest round of the Federation on Indian Chambers of...

Apparel/Garments | On 31st May 2016

China to open e-commerce to foreign investment

In a major policy decision, China has decided to lift restrictions to ...

Courtesy- DyStar

Textiles | On 31st May 2016

DyStar launches Cadira Polyester for resource efficiency

DyStar Group, solution provider offering a complete range of...

Interviews View All

Shawn Honeycutt
Bolger & O'Hearn

Which chemicals are likely to dominate the sustainable textiles industry?...

Jurgen Gauger
Spreadshirt

How is the market for personalised prints on garment shaping up? What are...

Neel Sawhney
One Friday

What is the overall size and growth of the market for kidswear in India?...

Mark Paterson
Technical Absorbents Ltd

<b><i>Mark Paterson, R&D manager of Technical Absorbents Ltd talks about...

Kevin Nelson
TissueGen

<b><i>Kevin Nelson, Chief Scientific Officer, TissueGen discusses the...

Iago Castro Asensio
RCfil Distribuciones S.L.

<b><i>Iago Castro Asensio, International Business Manager of RCfil...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Ritu Kumar
Label Ritu Kumar

"There are a lot of people wearing western clothes in India as well. But...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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
May 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search