Dillard’s, Inc. announced operating results for the thirteen weeks ended May 3, 2014. Total merchandise sales for the 13-week period ended May 3, 2014 were $1.539 billion and $1.530 billion for the 13-week period ended May 4, 2013. Total merchandise sales increased 1%, and sales in comparable stores increased 2% for the first quarter.
Dillard's, Inc. announced operating results for the thirteen weeks ended May 3, 2014.Summary of the Company's First Quarter Performance-A 2% #
Summary of the Company’s First Quarter Performance
-A 2% increase in comparable store sales
-Diluted earnings per share of $2.56 versus $2.50
-Cash flow from operations of $161.9 million versus $136.9 million
-Share repurchase of $65.9 million (0.7 million shares) of Class A Common Stock
Dillard's, Inc. announced operating results for the thirteen weeks ended May 3, 2014.Summary of the Company's First Quarter Performance-A 2% #
Dillard’s Chief Executive Officer, William Dillard, II, stated, “We reported record earnings per share of $2.56 compared to $2.50. Our 2% comparable store sales increase marks our 15th consecutive quarter of positive sales. Additionally, we executed $65.9 million of share buyback as a result of our strong cash flow.”
Dillard's, Inc. announced operating results for the thirteen weeks ended May 3, 2014.Summary of the Company's First Quarter Performance-A 2% #
First Quarter Results
Dillard’s reported net income for the 13-week period ended May 3, 2014 of $111.7 million ($2.56 per share) compared to net income of $117.2 million ($2.50 per share) for the 13 weeks ended May 4, 2013.
Dillard's, Inc. announced operating results for the thirteen weeks ended May 3, 2014.Summary of the Company's First Quarter Performance-A 2% #
Included in net income for the prior year 13-week period ended May 4, 2013 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)
-Net Sales – 13 Weeks
Dillard's, Inc. announced operating results for the thirteen weeks ended May 3, 2014.Summary of the Company's First Quarter Performance-A 2% #
Sales trends for the first quarter were strongest in the men’s apparel and accessories category and the juniors’ and children’s apparel category followed by ladies’ accessories and lingerie. Sales were weakest in home and furniture. Sales trends were strongest in the Central region, followed by the Eastern and Western regions, respectively.
Dillard's, Inc. announced operating results for the thirteen weeks ended May 3, 2014.Summary of the Company's First Quarter Performance-A 2% #
Net sales (which include the operations of the Company’s construction business, CDI Contractors, LLC (“CDI”)) for the 13 weeks ended May 3, 2014 were $1.551 billion and $1.549 billion for the 13 weeks ended May 4, 2013.