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Articles 

Dillard's Inc. Reports Operating Results (10-Q)

December 06, 2011 | About:

Dillard's Inc. (NYSE:DDS) filed Quarterly Report for the period ended 2011-10-29.

Dillards Inc. has a market cap of $2.51 billion; its shares were traded at around $48.75 with a P/E ratio of 13.5 and P/S ratio of 0.4. The dividend yield of Dillards Inc. stocks is 0.4%.

Highlight of Business Operations:

Improved sales headlined our third quarter operating performance of fiscal 2011, contributing to record-setting earnings per share. Extending the sales momentum from our first two quarters, comparable store sales for the quarter ended October 29, 2011 increased 5% over the comparable prior year quarter as gross margin rates were held and operating expenses were leveraged. Net income for the quarter increased to $228.2 million, or $4.31 per shareour highest historical third quarter earnings per sharecompared to $14.4 million, or $0.22 per share, in the comparable prior year quarter.

· record earnings per share for a third quarter of $4.31 per share compared to $0.22 per share for the prior year third quarter. Net income was $228.2 million for the quarter ended October 29, 2011 compared to net income of $14.4 million for the quarter ended October 30, 2010.

Inventory increased 4% in comparable stores as of October 29, 2011 compared to October 30, 2010 as management has planned more aggressively in light of improved sales trends. A 1% change in the dollar amount of markdowns would have impacted net income by approximately $2 million and $6 million for the three and nine months ended October 29, 2011, respectively.

SG&A improved 30 basis points of sales during the three months ended October 29, 2011 compared to the three months ended October 30, 2010 while total SG&A dollars increased $6.3 million. The dollar increase was most noted in payroll and payroll related taxes ($4.9 million), primarily of selling payroll, and supplies ($3.3 million) partially offset by decreased net advertising expenditures ($2.8 million) and utilities ($2.3 million).

SG&A improved 60 basis points of sales during the nine months ended October 29, 2011 compared to the nine months ended October 30, 2010 while total SG&A dollars increased $5.9 million. The dollar increase was most noted in payroll and payroll related taxes ($10.4 million), primarily of selling payroll, and supplies ($6.7 million) partially offset by decreased net advertising expenditures ($8.7 million).

Read the The complete Report

About the author:

10qk
Charlie Tian, Ph.D. - Founder of GuruFocus. You can now pre-order his book Invest Like a Guru on Amazon.

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GuruFocus has detected 2 Warning Signs with Dillard's Inc $DDS.
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