US: Dillards adjusted Q3 profit up on sales gains
- Adjusted Q3 net profit reached $46.1m
- Sales grew 4.8% to $1.4bn
- Comparable store sales rose 5%
Department store chain Dillards has nearly doubled its adjusted third-quarter profit, helped by sales gains.
The company today (8 November) said adjusted net income reached US$46.1m over the quarter ended 27 October, against $25.7m in the same period of the prior year.
Sales grew 4.8% to US$1.4bn. Merchandise sales increased 4% over the quarter, as comparable store sales rose 5%. The company said sales trends were strongest in men's apparel and accessories, ladies accessories and lingerie and shoes.
"Driven by a strong 5% sales increase, we were able to double our earnings per share for the third quarter on top of a record performance last year (after non-routine items)," said CEO William Dillard.
"We are pleased with our gross margin improvement and expense control during the quarter as well as with our ending inventory level. We are entering the holiday season confidently based on these strong results and we look forward to serving our customers at the highest possible level in the coming weeks."
- Impact of the TPP on the US textile industry?
- JC Penney emphasises new merchandising strategy
- Crystal Group nurtures its caring culture
- Apparel industry not immune from Russia tensions
- US apparel import data shows China competitiveness
- Cambodia garment workers “dying on the job”
- Vietnam proposes 15% rise to regional minimum wage
- Cotton prices set to slip on China policy change
- Nike appointments to drive growth opportunities
- Avery Dennison forms JV with Ningbo Shenzhou
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, Key Executives, and Contact Details
- Textile Wholesaling in the UK - Industry Market Research Report
- Survey of the European Fabric Fairs: Spring/Summer 2015
- Global market review of denim and jeanswear – forecasts to 2020
- Prospects for the Textile and Clothing Industry in Turkey