Dillard’s posted a wider net loss in its second quarter as comparable store sales slipped.
For the 13 weeks ended August 3, Dillard’s posted a net loss of $40.7 million, or $1.59 per share, versus a net loss of $2.9 million, or 10 cents per share, in the previous second quarter.
Included in the net loss for the 2019 quarter is a pretax gain of $3.8 million after tax, or 15 cents per share, primarily related to a store sale, the company reported.
Dillard’s missed a MarketBeat-published analyst consensus earnings per share estimate of a 77 cent loss.
Comparable sales in the quarter slipped by 2% year over year. Net sales were $1.43 billion versus $1.47 billion in the quarter a year before. Net revenues were $1.46 billion versus $1.5 billion in the year-earlier quarter.
Dillard’s has announced three store closures slated to occur in Oakwood Mall in Enid, OK; Cary Village in Cary, NC; and Mall of the Bluffs in Council Bluffs, IA.The company operates 260 Dillard’s stores and 29 clearance centers in 29 states.