Dillard’s Q3 Sales Off Slightly, Home Sales Soft

Third quarter sales at Dillard’s were down slightly but the company reported an increase in net income for the period ending Nov. 1

Total merchandise sales (which exclude the company’s CDI Contractors construction business) for the quarter were $1.422 billion compared to sales of $1.437 billion for the comparable quarter the year prior. Comparable store sales for the period were down 1%.

Sales trends were strongest in juniors’ and children’s apparel followed by men’s apparel and accessories. Sales were weakest in the home and furniture category. Sales trends were strongest in the central region, followed by the eastern and western regions, respectively.

“Although comparable sales declined 1%, we were pleased with (our) merchandise gross margin improvement, with our inventory control and with our strong operating cash flow,” said William T. Dillard, the company’s CEO. “We believe we are positioned very well for the holiday season, and we look forward to providing premium Dillard’s service to our customers.”

Total merchandise sales (exclusive of CDI) for the 39-week period ended November 1 were $4.423 billion compared with sales of $4.426 billion for the 39-week period ended November 2, 2013. Year-to-date total merchandise sales remained unchanged on a percentage basis while in comparable store sales for the period increased 1%.