Dillard's, Inc. has recently released its 10-Q report, providing a detailed insight into the company's performance. The retail giant operates department stores in the southeastern, southwestern, and midwestern regions of the United States, offering fashion apparel, accessories, cosmetics, and home furnishings. Additionally, the company engages in general contracting construction activities, including constructing and remodeling its stores. Dillard's, Inc. was founded in 1938 and is headquartered in Little Rock, Arkansas.
In the 10-Q report, Dillard's, Inc. reported a relatively solid first-quarter performance despite prevailing economic uncertainty. The company noted continued execution of expense control and strong gross margin performance as highlights of the quarter. Total retail sales declined 2%, with sales in comparable stores declining 1% compared to the prior year's first quarter. Retail gross margin was 45.5% of sales, down from 46.2% in the previous year. Inventory increased by 6% at the end of the quarter compared to the same period the previous year.
For the three months ended May 3, 2025, Dillard's, Inc. reported net income of $163.8 million ($10.39 per share) compared to net income of $180.0 million ($11.09 per share) for the three months ended May 4, 2024. The company's net cash provided by operating activities was $232.6 million for the three months ended May 3, 2025, down from $244.4 million for the prior year's first quarter. As of May 3, 2025, the company had working capital of $1,621.3 million and $521.6 million of total debt outstanding, including $321.6 million of long-term debt and $200.0 million of subordinated debentures. Dillard's, Inc. operated 272 stores, including 28 clearance centers and an internet store as of May 3, 2025.
The company also provided key performance indicators, including net sales, retail store sales trend, gross margin, selling, general and administrative expenses as a percentage of net sales, cash flow provided by operations, total retail store count, retail sales per square foot, retail store inventory trend, and annualized retail merchandise inventory turnover.
Dillard's, Inc. highlighted that its business is subject to seasonal influences, with a significant portion of sales and income typically realized during the last quarter of its fiscal year due to the holiday season. The company emphasized that results from any quarter are not necessarily indicative of the results that may be achieved for a full fiscal year.
The report also detailed the results of operations, net sales, service charges and other income, gross margin, selling, general and administrative expenses, interest and debt (income) expense, net, and more. It also provided a breakdown of net sales by segment and product category, highlighting the changes in sales and percentage by segment and product category to total net sales.
Following these announcements, the company's shares moved 1.98%, and are now trading at a price of $402.51. If you want to know more, read the company's complete 10-Q report here.
