During the fourth quarter, Dillard's earned $98.5 million, or $1.24 per share, down from $108.6 million, or $1.30 per share, for the same period last year. Analysts were expecting the chain to earn 87 cents per share on revenue of $2.31 billion. Earnings were impacted a host of charges, impairments and gains related to hurricane Katrina and the sale of the chain's credit subsidiary.
During the quarter, Dillard's closed three stores, and four stores remain closed because of hurricanes Katrina and Rita. The chain said it will close three more stores during the first quarter fiscal 2006 in Southglenn Mall in Centennial, CO; Heritage Park Mall in Midwest City, OK; and Town Square Mall in Pasadena, TX.
Dillard's didn't open any stores during the fourth quarter, but said it will open eight stores this year.
For fiscal 2005, net income was $121.5 million compared to net income of $117.6 million, while sales $7.56 billion compared to $7.53 billion for the same 52-week period in 2004. Net sales were unchanged on a percentage basis for the 52-week period on both a total and comparable store basis.
Sales were strongest in Dillard's Eastern and Western regions; the Central region underperformed, according to a statement from the company. The hottest sellers were shoes, while sales of children's apparel and furniture were soft.
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