Dillard’s fourth quarter net income rises

Northern, WI 03/12/2013 (avauncer) - Dillard’s Inc. (NYSE:DDS) – the US retail chain dealing in cosmetics, fashion apparel and home furnishing products - announced its fourth quarter earnings report. The quarterly profit gained 14 percent on the back of rising sales, but the company failed to meet the Wall Street expectations.

Dillard’s net income was recorded $161.4 million, or $3.36 per share as compared to last year’s same quarter, which was $141.5 million, or $2.77 per share. The earnings for the quarter ended on February 2 also got help from an extra week of sales compared to the same quarter of the previous year.

The retail giant’s net revenue climbed 7 percent to $2.106 billion, including the revenues earned from the firm’s other operations like construction business. Analysts were expecting the figures to be on the higher side as the average estimate of adjusted earnings for the fourth quarter was $2.88 per share and for sales it was $2.128 billion.

The company reported a net sale of $6.593 billion, up 5 percent. The total sale in the merchandise segment rose to $6.489 billion, gained 5 percent.

Company’s CEO Willian Dillard II said in a statement that the company was pleased to end the financial year on a positive note. A constructive performance along with better sales and a rise in gross margin added to expense control led the firm toward healthy cash flow right through the year, and in result the company was able to return cash in dividend form to stockholders in the quarter gone by, he further disclosed.

Dillard’s Inc. (NYSE:DDS) shares declined by 0.29%, trading at $80.31.

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