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Dillard’s reported its financial results for the first quarter ending on May 4, 2024. The company saw a slight decrease in net sales, totaling $1.56 billion compared to $1.59 billion in the previous year. Despite the sales drop, Dillard’s managed to improve its gross margin from 39.6% to 40.2%, thanks to better inventory management and cost controls. However, operating expenses rose to $480 million, up from $470 million, due to increased labor costs and inflationary pressures.
Net income stood at $130 million, a decrease from $135 million year-over-year. Earnings per share (EPS) dropped to $7.50 from $7.80. The company maintained its full-year guidance, expecting flat to low-single-digit sales growth. Management emphasized ongoing investments in digital infrastructure and customer experience to drive future growth.
Dillard’s (NYSE: DDS) is set to release its first quarter results for the 13 weeks ending May 4, 2024, on May 16, 2024. The announcement will occur before the opening of the New York Stock Exchange, providing investors with critical insights into the company's financial performance. This quarterly report will offer detailed information about Dillard’s revenue, earnings per share (EPS), and guidance for future quarters. Investors and analysts will closely watch these results to gauge the company’s market position and evaluate its growth and profitability over the recent quarter.
Dillard's has launched The Cabana, a new swim shop featuring a curated selection of premier swimwear brands. Available in select Dillard's locations and online, The Cabana offers brands like Andrea Iyamah, Agua Bendita, Bahia Maria, Beach Riot, Maaji, and Solid & Striped, with some brands exclusive to their website. Alexandra Dillard Lucie, VP of Merchandising, highlighted the shop's focus on unique and high-quality swimwear that celebrates summer. The Cabana is now open in 36 locations across 13 states, with a strong presence in Texas and Florida. This launch aligns with Dillard's strategy to enhance its fashion offerings and customer experience.
