• Q3 profit jumped 85% to US$26.6m
  • Net sales edged up 2.86% to $1.4bn
  • Same-store sales rose 5%

US retailer Dillard's saw third-quarter profit jump 85%, boosted by improving same-store sales and operating costs.

The company today said net income soared to US$26.6m for the quarter ended 29 October. Net sales edged up 2.86% to $1.4bn. Gross margin remained flat at 36.8%.

It said that operating expenses fell to to 29.3% of sales from 29.6% in the same period last year.

"Our 5% comparable store sales performance provided strong income momentum as we maintained gross margin and leveraged our operating expenses - resulting in an 85% increase in net income for the quarter," said chief executive William Dillard.

"This record-setting third quarter performance further solidifies our confidence in our strategy as we enter the holiday season."

However, the company's share price fell on the announcement, down 7.74% to $50.90 a share at 10:52 ET today.