CHICAGO (Reuters) – Department store chain Dillard’s Inc. (DDS.N: Quote, Profile, Research) on Monday posted a quarterly profit, helped by strong demand for furniture in areas recovering from last year’s hurricanes.
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\nDillard’s posted net income of $15.7 million, or 20 cents per share, in the second quarter ended on July 29, compared with a year-earlier loss of $12.3 million, or 15 cents per share.<\/p>\n
Results in the latest period included a slew of unusual items, such as gains from the sale of the company’s interest in a mall joint venture, proceeds from litigation, a tax benefit and a charge from another legal matter.<\/p>\n
Excluding those items, Dillard’s had a profit of 6 cents per share, spokeswoman Julie Bull said.<\/p>\n
Analysts on average expected a loss of 5 cents per share, according to Reuters Estimates. It was not immediately clear whether analysts had excluded one-time items.<\/p>\n
Net sales dipped slightly to $1.688 billion from $1.692 billion.<\/p>\n
The Little Rock, Arkansas-based retailer said furniture sales were particularly strong in the latest quarter, especially in areas recovering from last year’s hurricanes. Children’s clothing demand was weaker than normal.<\/p>\n
Dillard’s has been adding more upscale and contemporary clothing in a bid to attract fashion-conscious shoppers who will spend more for trendy styles. The strategy shift has helped it keep prices up, and gross margin improved by 110 basis points in the latest quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"
CHICAGO (Reuters) – Department store chain Dillard’s Inc. (DDS.N: Quote, Profile, Research) on Monday posted a quarterly profit, helped by strong demand for furniture in areas recovering from last year’s hurricanes.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-1621","post","type-post","status-publish","format-standard","hentry","category-furniture-world-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/1621","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/comments?post=1621"}],"version-history":[{"count":0,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/1621\/revisions"}],"wp:attachment":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/media?parent=1621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/categories?post=1621"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/tags?post=1621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}