Dillard's Q1 Results Top Estimates

(RTTNews) - Luxury department store chain Dillard's, Inc. (DDS) reported Thursday that first-quarter net income surged to $251.1 million or $13.68 per share from $158.2 million or $7.25 per share in the prior-year quarter.

Net sales for the quarter grew 22 percent to $1.61 billion from $1.33 billion in the same quarter last year. Comparable store retail sales for the quarter increased 23 percent.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $6.74 per share on net sales of $1.55 billion for the quarter. Analysts' estimates typically exclude special items.

The Company operates 251 Dillard's locations and 29 clearance centers spanning 29 states and an Internet store at dillards.com. Total square footage at April 30, 2022 was 47.7 million square feet.