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Dillard's reports Q4 net sales of $1.9 billion
26 Feb 20 2 min read
Dillard's, a US based luxury department store chain, posted net sales to $1.9 billion in Q4 FY19 compared to $2.01 billion in same period prior year. Net sales for complete fiscal that ended on February 1, 2020 reduced slightly to $6.2 billion compared to prior year. Sales includes operations of construction business, CDI contractors, LLC, company reported.
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Net income in the quarter fell to $67.7 million compared to $85.1 million in same period prior year. Comparable store sales decreased 3 per cent against a 2 per cent increase in Q4 FY18. Operating expenses in Q4 FY19 were $458.6 million compared to $458.0 million in same period prior year. Selling, general and administrative expenses ("operating expenses") stood at $458.6 million in the quarter.
Net income for complete FY19 fell to $111.1 million compared to $170.3 million prior year. Comparable store sales in the fiscal decreased 1 per cent against a 2 per cent increase in prior year. Operating expenses were $1,691.0 million in FY20 compared to $1,691.2 million. Operating expenses were $1,691.0 million (27.3% of sales) in FY19.
Dillard's has announced plans to open a new store at Mesa Mall in Grand Junction, Colorado during the third quarter of 2020 (105,000 square feet). The company has also announced plans to open a new store at University Place in Orem, Utah in the Spring of 2021 (160,000 square feet).
Fibre2Fashion News Desk (JL)
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