Dillard’s Q3 sales tick up with help from home and furniture
LITTLE ROCK, Ark. – Dillard’s retail sales grew incrementally during the third quarter, mirroring the pace of growth in the previous quarter.
Retail sales for the quarter ended Oct. 13 – excluding the impact of the company’s CDI Contractors construction business – increased 1% to $1.418 billion on top of a 3% increase in the year-ago period, with comps up 1%.
Compared to last year’s Q3, sales increased moderately in home and furniture, men’s apparel and accessories, ladies’ accessories and lingerie, and juniors’ and children’s apparel. Sales in cosmetics increased slightly. Sales were essentially flat in shoes and decreased slightly in ladies’ apparel.
Retal gross margin of 45.3 of sales was on par with last year’s third quarter, aided by moderate gross margin increases in men’s apparel and accessories and home and furniture. Retail gross margin increased slightly in shoes and decreased slightly in ladies’ apparel, cosmetics and ladies’ accessories and lingerie. Retail gross margin declined moderately in juniors’ and children’s apparel.
Net income inched up 0.8% to $130.9 million, or $8.38 per share.
Total net sales for the quarter, including CDI Contractors revenue, rose 0.7% to $1.42 billion.
“As we head into the holidays, our stores and dedicated team are ready to welcome and serve our customers,” said company CEO William T. Dillard II.
Total retail sales for the 9-month period rose 2% to $4.391 billion, with comp up 2%. Including the CDI Contractors business, total net sales rose 1%.
Retail gross margin expanded to 44.0% of sales compared to 42.9% sales in the comparable period.
Net income climbed 31% to $479.1 million, or $30.68 per share. The bottom line got a boost from $37.2 million in tariff refunds along with a pre-tax gain of $104.1 million on a favorable litigation settlement and a pre-tax gain of $5.5 million related to the sales of four properties.
At the end of the quarter, the company operated 272 Dillard’s stores, including 28 clearance centers. The company also announce that it plans to close its clearance center in Boynton Beach, Fla. in January 2027.
