DDS reporeted that its Q3 2009 earnings were 8 million or 11 cents/share, compared to a net loss of $56 million or 76 cents/share a year ago. Even though net sales were down 10% and comparable store sales were down 9%, the company was still able to generate a profit by smart inventory management and cost cutting measures. The company sold 22% of its inventory and cut SG&A expenses by 290 bps.
Dillard's announced that its October revenue fell 11 percent to $361.7 million from $406.1 million in the same month last year. Comparable store sales also fell 8%.
DDS announced that it's Q2 2009 net loss was $26.7 million, which was lower than its $38.3 quarterly loss a year ago. Some highlights included an increase in gross margin, decrease in operating expenses, and inventory reduction.
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.
