Little Rock, Ark. – Up against extremely tough comparisons to last year, Dillard’s posted solid top-line results and profit that beat expectations.
And for the first time in 7 quarters, home and furniture were among the top-performing categories. That’s not to say the home business had been dragging. It simply hadn’t out-performed since Q4 of late 2020. In that quarter, home and furniture weren’t just top performers, they significantly out-paced the rest of the store.
During the most recent Q3, other categories called out as strong performers include cosmetics, men’s apparel, accessories and shoes. Juniors’ and children’s apparel were the weakest performing categories.
Total company comp rose 3% on top of a 48% spike in last year’s Q3.
More third quarter results:
- Total retail sales up 3% to $1.499 billion and $1.460 billion
- Retail gross margin at 45.7% of sales vs. 46.7% of sales in the year-ago period
- Net income down 5% to $187.6 million
“Inventory control remains a priority as we have seen its powerful effects on our business,” said CEO William T. Dillard II.
Year-to-date results include:
- Retail sales up 8% to $4.633 billion, with comp up 8%
- Net income up 11% to $602.5 million
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