Home / Knowledge / News / Apparel/Garments / Dillard's CEO pleased with solid Q4 operating performance
Dillard's CEO pleased with solid Q4 operating performance
04
Mar '10
Dillard's, Inc. announced operating results for the 13 and 52 weeks ended January 30, 2010.

Dillard's Chairman of the Board and Chief Executive Officer, William Dillard, II, commented, "We are very pleased with our solid fourth quarter operating performance marked by gross margin improvement of 820 basis points of sales and continued cost reduction. Additionally, we achieved strong cash flow from operations for the year as well as notable year-over-year reductions in inventory and debt. Moving ahead, we will maintain our disciplined approach to these areas while effecting continued merchandise mix improvements to further strengthen our appeal to the Dillard's customer."

Highlights of the 13 and 52 weeks ended January 30, 2010 included:

• Fourth quarter net income of $79.5 million, or $1.08 per share, compared to a prior year fourth quarter net loss of $149.3 million, or $2.03 per share. Net income for the fiscal year of $68.5 million, or $0.93 per share, compared to a prior year net loss of $241.1 million, or $3.25 per share. (See further discussion of Net Income - 13 Weeks and Net Income - 52 Weeks below.)
• Improved fourth quarter merchandise gross margin performance of approximately 820 basis points of sales compared to the prior year fourth quarter. Improved fiscal year merchandise gross margin performance of approximately 410 basis points of sales.
• Fourth quarter operating expense savings of $50.8 million and fiscal year operating expense savings of $288.6 million.
• Fourth quarter net interest expense savings of $3.5 million and fiscal year net interest expense savings of $14.8 million.
• Cash flow from operations of $554.0 million for the fiscal year compared to $349.9 million for the prior fiscal year.
• An ending cash position of $341.7 million at January 30, 2010 with no short term borrowings outstanding under the Company's $1.2 billion revolving credit facility.
• Year over year inventory reduction of $73.7 million (5%) following a prior year ending inventory reduction of 23%. Inventory in comparable stores declined 5%.

Click here for more details.

Dillard's Inc


Must ReadView All

Textiles | On 26th Jul 2017

Q1 2018 revenue at Raymond soars 14%

The consolidated revenue of Raymond Limited for the first quarter of...

Textiles | On 26th Jul 2017

Textile Corp of America to create 1000 jobs in Tennessee

Textile Corporation of America Inc, a leading textile manufacturer,...

Textiles | On 26th Jul 2017

Leather & footwear industry expecting incentive package

India’s leather and footwear industry is anticipating an incentive...

Interviews View All

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Mark Paterson
Technical Absorbents Ltd

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

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Pranav Mishra
Huemn

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

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

July 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X