Earlier in the week, Dillard published its sales growth in the second quarter, showing improvements and recovering from its net loss.
Dillard’s Net sales of the previous second quarter were $1.427 billion which has risen to $1.468 billion for the current second quarter.
Total merchandise sales for the previous second quarter were $1.385 billion which has increased to $1.409 billion in the current quarter.
Also, Total merchandise sales and comparable store sales increased by 2% and 1% respectively for the current quarter.
As per reports, in the total merchandise sales performance, it was noticed that above trend performances occurred more for men’s accessories and apparel, as well as for children’s apparel.
The trend in sales for home, furniture, and cosmetics continued to remain consistent, as sales in ladies’ accessories and lingerie were slightly below trend.
Mostly below trend performances were observed in ladies apparel and shoes. Sales in the Eastern region remained consistent.
For the Western region, it was above trend, and slightly below trend in the Central region.
In the previous year’s second quarter Dillard suffered a net loss of $17.1 million, or $0.58 per share, and for the current year’s second quarter it reported a net loss of $2.9 million, or $0.10 per share showing some improvement.
Commenting on the improved result William Dillard, II, the CEO of Dillard went on to state, “We are obviously not content with bearing a loss for the quarter, but our 32% improvement in year-to-date pretax income is definitely a positive sign. We firmly believe this shows the continued strength of our customers and their likeliness for our merchandise choices, it is really encouraging as we head into the crucial back half of the year.”