Dillard’s Q1 Sales Edge Up

Dillard’s produced a relatively steady first quarter year over year, with comparable sales flat and net sales and income matching the previous first quarter.

The company reported net income for the first quarter of $78.6 million, or $2.99 per share, compared to net income of $80.5 million, or $2.89 per share, for the prior year first quarter.

Net sales for the first quarter were $1.465 billion compared to $1.458 billion for the previous first quarter. Net sales includes the operations of the company’s construction business, CDI Contractors. Total merchandise sales, which excludes CDI, were $1.421 billion up slightly compared to $1.411 billion for the prior first quarter. Total merchandise sales increased 1%. Comparable sales were flat on top of a 2% increase, the company said.

In relation to the total company sales performance, sales were strongest in juniors’ and children’s apparel followed by home and furniture and men’s apparel and accessories. Below-trend performances were noted in shoes and cosmetics. Sales were strongest in the Eastern region followed by the Central and Western regions, respectively, the company reported.