Department store chain Dillard's Inc's today posted a 55 per cent rise in fourth quarter profit as it cut expenses, reduced prices and stocked more profitable private-label goods.

Net income jumped to $102 million, or $1.21 a share, from $66m, or 78 cents a share, in the year-ago period. That figure beat city forecasts but sales in the period slipped 4.8 per cent to $2.53 billion.