Dillard's posted a first quarter profit of $7.6 million, which is 185% greater than last year's first quarter profit of just $2.7 million. Increase in profit was attributed to inventory management, expense reduction and cash conservation.
DDS declared a cash dividend of $0.04 per share on Class A and B common stock for shareholders on record as of March 31, 2009. The dividend will be paid out on May 4, 2009. This is in-line with dividends from previous quarters during this fiscal year as well as that of the previous-year quarter.
For the four-week period of October 2008, DDS reported that sales had fallen 9% to $406 million when compared to the same four-week period last year. Sames-store sales fell 8% during the same period.
Dillard's director annouced a 200 million share buy back.
Dillard’s Inc. reported a net loss of $25.2 million in Q2 as compared to a net income of $15.7 million in the same period last year, and a revenue decline of 2.6%. This was due to a decline in sales, a same store sales decline of 3%, and price markdowns to sustain adequate inventory levels.
