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Dillard's Disappointing Q1

LITTLE ROCK, AR-Dillard's struggles after reporting a 29% income loss and a 3% decline in net sales.

By Dana Dubriwny | Updated on May 24, 2005

LITTLE ROCK, AR-In its first quarter results, department store operator Dillard’s reported a 29% income loss from its Q1 results in 2004. Marking substantially lower-than-expected numbers, the company’s income fell to $38 million, or 46 cents a share, from last year’s income of $53.8 million, or 64 cents a share.

Net sales in the first quarter fell to $1.803 billion, a 3% decrease from $1.854 billion during the same period last year. Gross margin for Q1 declined 90 basis points as a percentage of sales due to slashed prices “as the company monitored and responded to lower than expected sales performance,” states the report.

The eastern and western regions proved to be a high point for Dillard’s. While the company’s lingerie, accessories and shoe sales outperformed, performance of women’s apparel and furniture plummeted.

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