Dillard's back to Q3 profit

US: Dillard's back to Q3 profit

By just-style.com | 14 November 2006

Department store retailer Dillard's has returned to third-quarter profit, mainly due to better gross margin performance.

Quarterly net profit was US$13.6m compared to a net loss of $2.7m last year.

For the 13 weeks ended 28 October, sales totalled US$1.72bn compared to $1.73bn a year ago. Same-store sales were down 2%.

Performance in the Western region was slightly below trend, Dillard's admitted, as were sales of juniors' and children's apparel as well as decorative home merchandise.

Total inventory declined 1% as of 28 October 2006 compared to 29 October 2005. Inventory in comparable stores declined 3%.

"Dillard's remains committed to providing a differentiated shopping experience to position its merchandise mix toward a more upscale and contemporary tone to continue to attract customers who are seeking exciting statements in fashion," the company said.

Sectors: Apparel, Finance, Footwear, Retail

Companies: Dillard’s