Dillard’s Reports Modest Gains in Second-Quarter Sales

Second-quarter net sales at Dillard’s were up slightly as the department store retailer reported modest gains in comparable store sales.

For the 13 weeks ended Aug. 2, total retail sales were $1.447 billion, up 1% from the comparable quarter the previous year. Net income in the second quarter was $72.8 million, or $4.66 per share, compared to $74.5 million, or $4.59 per share in the second quarter of the previous year.

Stronger performing categories were juniors’ and children’s apparel and ladies’ accessories and lingerie. Home and furniture were the weakest performing categories.

“We were happy to achieve a sales increase for the first time in a while and encouraged by strengthening sales trends in July,” said William T. Dillard II, the retailer’s chief executive officer. “In an operating environment that changes daily, we focused on controlling inventory, ending up 2% compared to 6% at the end of the first quarter.”

Total retail sales for the 26 weeks ended Aug. 2 were $2.915 billion, down slightly from sales of $2.919 billion in the first half of the prior year. Comparable stores sales for the first half were flat.