Strong sales in home and furniture were cited by Dillard’s as key factors to modest comparable store sales growth in the fourth quarter, as overall sales in the 13-week period ending February 2 were flat.
Net sales for the quarter were $2.01 billion compared with sales of $2.06 billion for the 14-week fourth quarter in the prior fiscal year. Net income for the quarter was $85.1 million, or $3.22 per share, compared to net income of $157.6 million, or $5.55 per share, for the comparable quarter the previous year.
In the fiscal year, net sales were $6.356 billion for the 52 weeks ended February 2, 2019, compared to sales of $6.262 billion for the 53 weeks ended February 3, 2018. Comparable store sales for the year increased 2%.
Dillard’s reported net income for the 52 weeks ended February 2, 2019, was $170.3 million, or $6.23 per share, compared to net income of $221.3 million, or $7.51 per share, for the 53 weeks ended February 3, 2018.
“Our 2% comparable store sales increase for 2018 is comprised of four quarters of positive sales,” said William T. Dillard, II, the retailer’s CEO. “For the year, we held retail gross margin and operating expenses flat as a percent of sales.”