Dillard’s net income for the quarter ended April 28 rose to $95 million, from $76.7 million in the year-ago period, setting a company record for profit increases.
Sales rose to $1.55 billion, from $1.47 billion. Same-store sales climbed 5%, the department store retailer’s seventh consecutive quarter of comp increases.
Dillard’s said it saw its greatest strength in the first quarter from the central region of the United States, followed by the eastern and the western regions.
Dillard’s CEO, William Dillard, II, stated, “We are happy to report a very strong start to 2012 with our seventh consecutive quarter of increased same-store sales, as well as record setting earnings and earnings per share performances.”
As of April 28, the company operated 287 Dillard’s locations and 17 clearance centers spanning 29 states and an Internet store at www.dillards.com. Total square footage at April 28 was 52.5 million.
Source: retailingtoday.com
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