Dillard’s first half per share earnings fall to 1.62 dollars

Dillard's reported net income for the 26 weeks ended July 29, 2017 of 49.2 million dollars or 1.62 dollars per share, compared to net income of 89.5 million dollars or 2.55 dollars per share, for the prior year 26-week period. Net sales for the period remained at the last’s year’s first half level at for the period were 2.845 billion dollars compared to 2.956 billion dollars, same period last year.

"Significant markdowns led to a disappointing loss as we dealt with inventory, which was up 2 percent at quarter end," commented Dillard's Chief Executive Officer, William T. Dillard in a press statement.

H1 comparable store sales decline, posts Q2 net loss

Total merchandise sales for the 26-weeks were 2.770 billion dollars against 2.853 billion dollars for the same period last year. Total merchandise sales decreased 3 percent and comparable store sales decreased 2 percent.

Dillard's reported a net loss for the 13 weeks of 17.1 million dollars or 0.58 dollar per share compared to net income of 12.1 million dollars or 0.35 dollar per share, for the prior year second quarter. Net sales for the period were 1.427 billion dollars compared to 1.452 billion dollars, respectively. Total merchandise sales decreased 1 percent and sales in comparable stores for the period decreased 1 percent.

The company said, sales increased slightly in ladies' apparel but were consistent with the company trend in juniors' and children's apparel, ladies' accessories and lingerie and men's apparel and accessories. Sales in shoes were slightly below trend. Below trend performances were noted in cosmetics and home and furniture as well.

Geographically, sales were slightly above trend in the eastern region, consistent with trend in the western region and below trend in the central region.

The company operated 268 Dillard's locations and 25 clearance centers spanning 29 states and an Internet store Dillards.com.

Picture:Facebook/Dillard's