Dillard's Reports Higher Profits; Beats Estimates (DDS)

Dillard’s Reports Higher Profits; Beats Estimates (DDS)


Apparel company, Dillard’s, Inc. (DDS) reported an increase in earning on Thursday, which came in well above analysts estimates.

The Little Rock, AR based company reported first quarter earnings of $117.2 million, or $2.50 per share up 23% from $95 million, or $1.89 a share a year ago. On average, analysts expected to see earnings of $2.11 per share. The company’s earnings included a $4.4 million tax benefit.

Revenue for the quarter remained flat at $1.55 billion, which came in below analysts estimate of $1.6 billion. Comparable store sales rose 1% during the quarter.

Dillard’s CEO William T. Dillard, II, commented, “we are reporting a strong start to 2013 in spite of unseasonably cool weather. Positive comparable stores sales and gross margin expansion combined with good expense control led to another quarter of record profitability at Dillard’s. We were also pleased with our strong cash flow, which enabled us to repurchase $114.7 million of Class A Common Stock.”

The company repurchased 1.4 million shares for approximately $114.7 million during the quarter.

Dillard’s shares were up $3.41, or 3.83% during premarket trading Thursday. The stock is up 6% YTD.

The Bottom Line
Shares of Dillard’s, Inc. (DDS) have a 0.22% yield, based on Wednesday’s closing price of $89.09.

Dillard’s, Inc. (DDS) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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