Dillard's reports sales of $1,025 mn in Q3 FY20

18 Nov '20

1 min read

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Dillard’s Inc, a US based luxury department store chain, has reported decline in its net sales to $1,024.9 million during the third quarter (Q3) for fiscal 2020 that ended on October 31, compared to the sales of $1,388.3 million in same period previous year. However, company’s net income for Q3 FY20 rose to $31.9 million (Q3 FY19: $5.5 million).

Cost of sales for the period was down to $658.7 million ($926.8 million). Selling, general and administrative expenses were $318.2 million ($418.1 million).

According to Dillard’s press release, sales of home and furniture in Q3 FY20 significantly outperformed the other categories followed by ladies' accessories and lingerie and cosmetics. Whereas, sales of ladies' apparel were significantly below trend. Sales in the Eastern region moderately outperformed the Central and Western regions, respectively.

“We have worked hard on inventory and expense control in unpredictable conditions throughout the pandemic,” Dillard's chief executive officer William Dillard, II said in the release. “As we enter this holiday season, one thing we can predict is the dedication of our associates and their exceptional service to our customers.”

Fibre2Fashion News Desk (JL)

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