Dillard's Q4 Profit Misses Estimates - Quick Facts

(RTTNews) - Dillard's, Inc. (DDS) reported fourth-quarter earnings per share of $2.75 compared to $3.22, a year ago. The company noted that net income for the 13 weeks ended February 1, 2020 included a pretax gain of $8.3 million ($6.5 million after tax or $0.26 per share) and $2.3 million ($0.09 per share) in tax benefits. On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $3.01, for the quarter. Analysts' estimates typically exclude special items.

Fourth-quarter net sales were $1.92 billion compared to $2.01 billion, a year ago. Total merchandise sales decreased 4% for the 13-week period ended February 1, 2020. Sales in comparable stores for the period decreased 3%. Analysts expected revenue of $2.03 billion for the quarter.

Dillard's CEO William Dillard, II, said, "A weak top line weighed heavily on the bottom line in the fourth quarter. However, we achieved a consecutive 4% decline in inventory while maintaining a flat gross margin rate."