Department stores mounted a remarkable recovery from the COVID-19 pandemic last year. Most companies in the industry saw strong improvement in sales and profitability . Many reported record earnings results.
However, no other department store operator came close to the results Dillard's (NYSE: DDS) posted. On Tuesday, the regional department store chain reported its fourth consecutive record quarterly profit. That brought its full-year adjusted earnings per share (EPS) to $40.05 -- more than five times the previous record of $7.70. Let's see what the company's latest earnings beat means for investors.
Dillard's revenue momentum continued last quarter, as comparable retail sales jumped 12% relative to the fourth quarter of fiscal 2019. Net sales reached $2.11 billion, up from $1.92 billion two years earlier. For the full fiscal year, comp sales grew 8% over 2019.
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Dillard's Delivers Another Ridiculous Earnings Beat