Dillard's Q2 Profit Down, But EPS Rises - Quick Facts

(RTTNews) - Apparel retailer Dillard's Inc. (DDS) reported that its second-quarter net income declined to $34.5 million, from $36.5 million in the prior year second quarter. But, earnings per share increased to $0.80 from $0.79 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.86 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter was $1.475 billion compared to $1.480 billion last year. Net sales included the operations of the Company's construction business, CDI Contractors, LLC or "CDI". Comparable stores sales increased 1% for the quarter. Wall Street analysts had a consensus revenue estimate of $1.53 billion for the quarter.

Total merchandise sales, which exclude CDI, for the 13-week period ended August 2, 2014 were $1.461 billion and $1.459 billion for the 13-week period ended August 3, 2013. Total merchandise sales remained unchanged on a percentage basis for the 13-week period ended August 2, 2014.

The company stated that sales trends were strongest in juniors' and children's apparel followed by men's apparel and accessories. Sales were weakest in the home and furniture category. Sales trends were strongest in the Central region, followed by the Eastern and Western regions, respectively.

Dillard's Chief Executive Officer, William Dillard, II, said, "Although our 1% comparable store sales increase led to a profitable quarter, we are somewhat disappointed in the bottom line performance. We are pleased with our inventory management during the quarter and with our ending inventory position."