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 2nd May 2016

Maharashtra to develop Amravati as textile city

For years, Amravati in Mahasrashtra has been infamous for farmers’...

Cité de la Mode et du Design, Spinexpo's Paris venue.

Textiles | On 2nd May 2016

Spinexpo expands in Europe with debut fair in Paris

Spinexpo, an international trade exhibition for fibres, yarns,...

Apparel/Garments | On 2nd May 2016

UK online delivery volumes match IMRG Q1forecast

Online retail delivery volumes were up 12.7 per cent year-on-year in...

Interviews View All

Abhishek Ganguly
Puma India

There are quite a number of brands stepping into the sports lifestyle...

Humayun Kabir Salim
Dird Composite Textile Ltd

The importance of textile industry in the economy of Bangladesh is very...

Pierre Wiertz
EDANA

EDANA recently collaborated with ANNA to facilitate free trade between...

Dr. Andreas Schmidt
Department Function and Care, The Hohenstein Institute

Dr. Andreas Schmidt is Director of Department Function and Care, The...

Michael Kamm
Sympatex Technologies GmbH

Sympatex Technologies has been one of the leading global suppliers of high ...

Mr SS Iyer
Zenith Fibres Ltd

Mr SS Iyer, currently President of Zenith Fibres Ltd, graduated in...

Jay Ramrakhiani
Occasions Elegance Wear

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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
April 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


<%@ language="VBScript" %>
feedback
We would love to hear from you about your experience using the new interface. A quick review of yours would help us give you a better experience.
Advanced Search