2023-05-11 08:17:58 ET
Dillard's ( NYSE: DDS ) reported total retail sales and comparable sales fell 4% in Q1 . Overall revenue fell 1.9% to $1.58B. EPS came in at $11.85 vs. $13.68 a year ago.
The department store operator noted a decline in customer activity in the back half of the quarter. Cosmetics was noted to be the strongest performing category followed by shoes and ladies’ apparel. Ladies’ accessories and lingerie and juniors’ and children’s apparel were the weakest categories during the quarter.
Consolidated gross margin was 43.7% of sales vs. 46.5% a year ago. Retail gross margin was 45.6% vs. 47.3% last year.
Dillard's ( DDS ) ended Q1 with 247 store locations and 27 clearance centers across 29 states.
During the quarter, Dillard's ( DDS ) purchased $113.8M or approximately 357K of Class A common stock at an average price of $318.66 per share. Authorization of $61.6M remained under the February 2022 buyback program at the end of the quarter.
Shares of Dillard's ( DDS ) moved up 1.28% in premarket trading.
More on Dillard's:
- Dillard's: Weakening Financial Performance Ahead
- Read more breakdowns on Dillard's from Seeking Alpha analysts
- View the growth metrics
- See the financial and valuation comparisons to sector peers
- Dig into the Seeking Alpha Quant Rating
For further details see:
Dillard's points to decline in customer activity late in Q1