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Dillard's Q2 FY20 result: sales $919 mn; net loss $8.6 mn
31 Aug 20 1 min read
Dillard’s Inc, a US based luxury department store chain, has reported decline in its net sales to $919.0 million during the second quarter (Q2) for fiscal 2020 that ended on August 1, compared to the sales of $1,426.8 million in same period previous year. Company incurred a net loss of $8.6 million (Q2 FY19: $40.7 million) during the quarter.
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“We thank our dedicated associates for their outstanding service to our customers as we continue to navigate the pandemic. During the quarter, we worked hard to control inventory and expenses. These measures allowed us to improve gross margin and substantially narrow the loss from the prior year second quarter,” Dillard's chief executive officer William Dillard, II said in a press release.
Cost of sales during the quarter was down to $639.8 million ($1,032.0 million). Selling, general and administrative expenses were $267.1 million ($409.1 million). Loss before income taxes were $33.4 million ($52.2 million).
Company stated that all Dillard's store locations were re-opened by June 2, 2020.
Fibre2Fashion News Desk (JL)
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