US: Dillard’s Q2 profit in 76% surge
- Q2 net income up 76% to US$31m
- Total merchandise sales up 2% to $1.456bn
- Comparative store sales up 3%
Department store chain Dillard’s recorded a 76% surge in second quarter profits, boosted by stronger revenues and an improvement in gross margins.
The US company said high-performing categories in the three months to 28 July included women’s accessories, lingerie and shoes, while there was a weaker showing from juniors’ and children’s apparel.
“Our 3% sales increase, combined with gross margin improvement and control of our expenses, enabled us to report a notable improvement in operating results today,” said company CEO William Dillard.
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