US: Dillard's posts Q4 profit upswing
- Q4 profit up 27%
- Sales up 5%
- Margins improved during quarter
US department store chain Dillard's has bolstered its fourth quarter profits, citing disciplined inventory management and expenses control.
The company posted a 27% rise in net income to $109.6m for the three months to 29 January, up from $79.5m last year. Net sales were up 5% to US$1.934bn from $1.834bn.
Dillard's said its net income for the full-year more than doubled to $179.6m from $68.5m last time, as sales edged up to $6.121bn, from $6.095bn.
"Our fourth quarter results underscore a year of progress at Dillard’s. We began 2010 well positioned to achieve notable results, and we remained focused on our core initiatives throughout the year," said chief executive officer William T Dillard.
"We executed disciplined inventory management and controlled our expenses while seeking clear distinction in the mind of the fashion consumer."
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The following is a general roundup of US apparel and shoe chains' July 2011 sales results....
The following is a general roundup of US apparel and shoe chains' June 2011 sales results. The list will be updated as new results become available....
Retailer Dillard's posted a strong surge in second quarter net profit, thanks in part to a 5% increase in net retail sales, excluding the company's construction business....
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