Dillard's Q2 Results Top Estimates

(RTTNews) - Luxury department store chain Dillard's, Inc. (DDS) reported Thursday a second-quarter net income of $163.4 million or $9.30 per share, lower than $185.7 million or $8.81 per share in the prior-year quarter.

Net sales for the quarter edged up to $1.59 billion from $1.57 billion in the same quarter last year. Comparable store retail sales for the quarter were flat.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $3.47 per share on net sales of $1.54 billion for the quarter. Analysts' estimates typically exclude special items.

The Company also announced the upcoming closing of locations in Sikes Senter in Wichita Falls, Texas and East Hills Mall in St. Joseph, Missouri. Both locations are expected to close during the third quarter.

Further, Dillard's confirmed its commitment to The Empire Mall in Sioux Falls, South Dakota, with the new store expected to open in the fall of 2023 to mark the Company's 30th state of operation.