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Dillard's Inc. Reports Operating Results (10-Q)
Posted by: gurufocus (IP Logged)
Date: November 28, 2012 10:33PM
Dillard's Inc. (DDS) filed Quarterly Report for the period ended 2012-10-27. Dillards, Inc. has a market cap of $4.07 billion; its shares were traded at around $89.02 with a P/E ratio of 15.2 and P/S ratio of 0.7. The dividend yield of Dillards, Inc. stocks is 0.2%. Dillards, Inc. had an annual average earning growth of 15.5% over the past 5 years.
Highlight of Business Operations:Intersegment construction revenues of $10.5 million and $28.3 million for the three and nine months ended October 27, 2012, respectively, and intersegment construction revenues of $10.8 million and $25.8 million for the three and nine months ended October 29, 2011, respectively, were eliminated during consolidation and have been excluded from net sales for the respective periods.
The number of sales transactions increased 1% for the three months ended October 27, 2012 over the comparable prior year period while the average dollars per sales transaction increased 4%. We recorded an allowance for sales returns of $7.0 million and $7.7 million as of October 27, 2012 and October 29, 2011, respectively.
Net sales from the construction segment increased $8.7 million or 53% during the three months ended October 27, 2012 compared to the three months ended October 29, 2011 due to an increase in new construction projects. We believe that we will continue to see some sales growth in the construction segment during fiscal 2012; however, there is no guarantee of improved sales performance. The backlog of awarded construction contracts at October 27, 2012 totaled $184.7 million.
SG&A improved 140 basis points of sales during the three months ended October 27, 2012 compared to the three months ended October 29, 2011. The improvement was most noted in advertising ($6.1 million) and utilities ($1.5 million) mostly offset by increases in payroll and payroll related taxes ($4.6 million) and services purchased ($2.2 million).
SG&A improved 100 basis points of sales during the nine months ended October 27, 2012 compared to the nine months ended October 29, 2011 while total SG&A dollars increased $6.6 million. The dollar increase was most noted in payroll and payroll related taxes ($10.3 million), services purchased ($8.4 million) and insurance ($5.3 million) partially offset by savings in advertising ($15.4 million) and utilities ($6.2 million).
Stocks Discussed: DDS,