Home / Knowledge / News / Apparel/Garments / Q2 net income slips $2mn at apparel retailer Dillard's
Q2 net income slips $2mn at apparel retailer Dillard's
19
Aug '14
For the 13 weeks or second fiscal quarter ended August 2, 2014, net income at apparel and accessories retailer – Dillard’s slipped $2 million from the same period a year ago, but was able to hike its EPS by $0.01 per share.

Dillard’s posted net income of $34.5 million, or $0.80 per share in second fiscal quarter of 2014, compared to net income of $36.5 million, or $0.79 per share, for the prior year second quarter.

In the period under preview, comparable stores sales increased 1% year-on-year.

Net sales for second quarter of 2014 were marginally down to $1.475 billion, which includes operations of its construction business - CDI Contractors, LLC, against $1.478 billion in comparable quarter of previous fiscal year.

Total merchandise sales, excluding CDI for the 13-week period ended August 2, 2014 remained unchanged on a percentage basis at $1.461 billion from last fiscal year’s quarter. Sales in comparable stores for the period rose 1%.

Dillard’s said, sales trends were strongest in juniors’ and children’s apparel followed by men's apparel and accessories and region wise they were strongest in the Central region, followed by Eastern and Western regions, respectively.

Gross margin from retail operations, excluding CDI declined 33 basis points of sales for the second quarter of 2014 versus prior year second quarter. Dillard’s attributed the decline to increased markdowns.

Consolidated gross margin for the 13 weeks ended August 2, 2014 declined 20 basis points of sales compared to the same quarter last year, while inventory fell 2% from last year’s second quarter.

Selling, general and administrative expenses (SG&A) were $400.5 million or 27.2% of sales in second fiscal quarter of 2014. The retailer said an increase in payroll expense was partially offset by decrease in insurance and advertising expense.

As of August 2, 2014, Dillard’s operated 278 stores locations and 18 clearance centers spanning 29 US states spread over 50.5 million sq. feet.

Dillard’s CEO William Dillard said, “Although our 1% comparable store sales increase led to a profitable quarter, we are somewhat disappointed in the bottom line performance. We are pleased with our inventory management during the quarter and with our ending inventory position."

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 29th Jun 2017

Nan Ya files trade petition in US against Korea & Taiwan

Nan Ya Plastics Corporation, America, a US synthetic fibre producer,...

Textiles | On 29th Jun 2017

Indian textile industry will reach new milestone by 2020

By 2020, textile technologies will be highly advanced not only with...

Apparel/Garments | On 29th Jun 2017

Amazon intends to keep investing and growing in India

American online retail giant Amazon intends to keep investing and...

Interviews View All

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Marcel Alberts
Eurofibers

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

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Sonam & Paras Modi
SVA

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

Silvia Venturini Fendi
Fendi s.r.l

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

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:
July 2017

July 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



X