Dillard’s, Inc. reported a 25 percent increase in second quarter earnings per share compared to the prior year. Net sales for the 13 weeks ended Aug. 3 were $1.48 billion. The company also saw a 1 percent increase in comparable store sales.
Dillard’s reported net income for the 13 weeks ended Aug. 3. of $36.5 million, or $0.79 per share compared to net income of $31.0 million, or $0.63 per share, for the prior year second quarter. Merchandise gross margin improved 10 basis points of sales.
Dillard’s Chief Executive Officer, William T. Dillard, II, stated, “Following a strong start to the year, we made further progress in the second quarter. Positive comparable store sales and gross margin expansion combined with continued expense control enabled us to report another quarter of year over year improvement at Dillard’s.”
Net sales for the 13 weeks ended August 3, 2013 were $1.480 billion and $1.488 billion for the 13 weeks ended July 28, 2012. Net sales include the operations of the Company’s construction business, CDI Contractors, LLC (“CDI”).
Total merchandise sales (which exclude CDI) for the 13-week period ended August 3, 2013 were $1.459 billion and $1.456 billion for the 13-week period ended July 28, 2012. Total merchandise sales were unchanged on a percentage basis for the 13-week period ended August 3, 2013. Sales in comparable stores for the period increased 1%.
Sales trends were notably strong in ladies’ accessories and lingerie followed by juniors’ and children’s apparel. Sales were weakest in the home and furniture category followed by ladies’ apparel. Sales trends were strongest in the Central region, followed by the Western and Eastern regions, respectively.