Dillard’s, Inc. Reports Fourth Quarter and Fiscal Year Results
Dillard's (NYSE: DDS) released its fourth quarter and fiscal year 2024 results, reporting a decrease in performance compared to the previous year. For Q4, the company posted net income of $214.4 million ($13.48 per share), down from $250.5 million ($15.44 per share) in the prior year. Total retail sales decreased 1% with comparable store sales also down 1%.
Retail gross margin declined to 36.1% from 37.7% in the previous year's Q4. Inventory increased by 7%. For the full fiscal year 2024, Dillard's reported net income of $593.5 million ($36.82 per share), compared to $738.8 million ($44.73 per share) in fiscal 2023. Annual retail sales decreased 2% with comparable store sales down 3%.
CEO William T. Dillard, II noted: "With sales down 1%, we worked on controlling expenses but lost some steam in gross margin." During Q4, the company repurchased approximately 36,000 shares for $14 million, with $273 million remaining in its buyback authorization. Dillard's currently operates 272 stores across 30 states.
Dillard's (NYSE: DDS) ha pubblicato i risultati del quarto trimestre e dell'anno fiscale 2024, registrando una diminuzione delle performance rispetto all'anno precedente. Per il Q4, l'azienda ha riportato un reddito netto di 214,4 milioni di dollari (13,48 dollari per azione), in calo rispetto ai 250,5 milioni di dollari (15,44 dollari per azione) dell'anno precedente. Le vendite al dettaglio totali sono diminuite dell'1% con vendite comparabili in calo dell'1%.
Il margine lordo al dettaglio è diminuito al 36,1% rispetto al 37,7% del Q4 dell'anno precedente. L'inventario è aumentato del 7%. Per l'intero anno fiscale 2024, Dillard's ha riportato un reddito netto di 593,5 milioni di dollari (36,82 dollari per azione), rispetto ai 738,8 milioni di dollari (44,73 dollari per azione) dell'anno fiscale 2023. Le vendite al dettaglio annuali sono diminuite del 2% con vendite comparabili in calo del 3%.
Il CEO William T. Dillard, II ha osservato: "Con le vendite in calo dell'1%, abbiamo lavorato per controllare le spese ma abbiamo perso un po' di slancio nel margine lordo." Durante il Q4, l'azienda ha riacquistato circa 36.000 azioni per 14 milioni di dollari, con 273 milioni di dollari rimanenti nella sua autorizzazione al riacquisto. Dillard's attualmente opera 272 negozi in 30 stati.
Dillard's (NYSE: DDS) publicó sus resultados del cuarto trimestre y del año fiscal 2024, reportando una disminución en el rendimiento en comparación con el año anterior. Para el Q4, la compañía registró un ingreso neto de 214.4 millones de dólares (13.48 dólares por acción), una disminución respecto a los 250.5 millones de dólares (15.44 dólares por acción) del año anterior. Las ventas minoristas totales disminuyeron un 1% y las ventas en tiendas comparables también cayeron un 1%.
El margen bruto minorista disminuyó al 36.1% desde el 37.7% en el Q4 del año anterior. El inventario aumentó un 7%. Para el año fiscal completo 2024, Dillard's reportó un ingreso neto de 593.5 millones de dólares (36.82 dólares por acción), en comparación con 738.8 millones de dólares (44.73 dólares por acción) en el año fiscal 2023. Las ventas minoristas anuales disminuyeron un 2% y las ventas en tiendas comparables cayeron un 3%.
El CEO William T. Dillard, II comentó: "Con las ventas bajando un 1%, trabajamos en controlar los gastos, pero perdimos algo de impulso en el margen bruto." Durante el Q4, la compañía recompró aproximadamente 36,000 acciones por 14 millones de dólares, con 273 millones de dólares restantes en su autorización de recompra. Dillard's actualmente opera 272 tiendas en 30 estados.
Dillard's (NYSE: DDS)는 2024 회계연도 4분기 및 연간 실적을 발표하며, 전년 대비 성과가 감소했다고 보고했습니다. 4분기 동안, 회사는 2억 1천 440만 달러의 순이익 (주당 13.48 달러)를 기록하였으며, 이는 전년의 2억 5천 50만 달러 (주당 15.44 달러)에서 감소한 수치입니다. 총 소매 판매는 1% 감소했습니다 또한 동종 매장 판매도 1% 감소했습니다.
소매업 총 마진이 감소했습니다 전년 4분기 37.7%에서 36.1%로 감소했습니다. 재고는 7% 증가했습니다. 2024 회계연도 전체에 대해 Dillard's는 5억 9천 350만 달러의 순이익 (주당 36.82 달러)를 보고했으며, 이는 2023 회계연도의 7억 3천 880만 달러 (주당 44.73 달러)와 비교됩니다. 연간 소매 판매는 2% 감소했으며, 동종 매장 판매는 3% 감소했습니다.
CEO William T. Dillard, II는 다음과 같이 언급했습니다: "판매가 1% 감소하면서 비용 통제에 노력했지만 총 마진에서 약간의 동력을 잃었습니다." 4분기 동안 회사는 약 36,000주를 1,400만 달러에 재매입했으며, 2억 7천 300만 달러가 남아 있습니다. Dillard's는 현재 30개 주에 272개의 매장을 운영하고 있습니다.
Dillard's (NYSE: DDS) a publié ses résultats du quatrième trimestre et de l'année fiscale 2024, signalant une diminution de la performance par rapport à l'année précédente. Pour le Q4, l'entreprise a affiché un revenu net de 214,4 millions de dollars (13,48 dollars par action), en baisse par rapport à 250,5 millions de dollars (15,44 dollars par action) l'année précédente. Les ventes au détail totales ont diminué de 1% avec des ventes en magasin comparables également en baisse de 1%.
La marge brute au détail a diminué à 36,1% contre 37,7% au Q4 de l'année précédente. Les stocks ont augmenté de 7%. Pour l'ensemble de l'année fiscale 2024, Dillard's a rapporté un revenu net de 593,5 millions de dollars (36,82 dollars par action), contre 738,8 millions de dollars (44,73 dollars par action) en 2023. Les ventes au détail annuelles ont diminué de 2% avec des ventes en magasin comparables en baisse de 3%.
Le PDG William T. Dillard, II a noté : "Avec des ventes en baisse de 1%, nous avons travaillé à contrôler les dépenses mais avons perdu un peu de dynamisme dans la marge brute." Au cours du Q4, l'entreprise a racheté environ 36 000 actions pour 14 millions de dollars, avec 273 millions de dollars restant dans son autorisation de rachat. Dillard's exploite actuellement 272 magasins dans 30 États.
Dillard's (NYSE: DDS) hat die Ergebnisse des vierten Quartals und des Geschäftsjahres 2024 veröffentlicht und einen Rückgang der Leistung im Vergleich zum Vorjahr berichtet. Im Q4 erzielte das Unternehmen einen Nettogewinn von 214,4 Millionen Dollar (13,48 Dollar pro Aktie), ein Rückgang von 250,5 Millionen Dollar (15,44 Dollar pro Aktie) im Vorjahr. Der gesamte Einzelhandelsumsatz ging um 1% zurück und auch die vergleichbaren Verkaufszahlen sanken um 1%.
Die Bruttomarge im Einzelhandel ging zurück auf 36,1% von 37,7% im Q4 des Vorjahres. Der Lagerbestand stieg um 7%. Für das gesamte Geschäftsjahr 2024 berichtete Dillard's einen Nettogewinn von 593,5 Millionen Dollar (36,82 Dollar pro Aktie), verglichen mit 738,8 Millionen Dollar (44,73 Dollar pro Aktie) im Geschäftsjahr 2023. Der jährliche Einzelhandelsumsatz ging um 2% zurück, während die vergleichbaren Verkaufszahlen um 3% sanken.
CEO William T. Dillard, II bemerkte: "Mit einem Rückgang der Verkäufe um 1% haben wir daran gearbeitet, die Ausgaben zu kontrollieren, aber im Bruttomargin etwas an Schwung verloren." Im Q4 hat das Unternehmen etwa 36.000 Aktien für 14 Millionen Dollar zurückgekauft, mit noch 273 Millionen Dollar in seiner Rückkaufautorisierung. Dillard's betreibt derzeit 272 Geschäfte in 30 Bundesstaaten.
- Share repurchase program continues with $14 million (36,000 shares) bought in Q4
- $273 million remains in the May 2023 buyback authorization
- Operating expenses remained controlled at 22.4% of sales in Q4
- Home and furniture and cosmetics were stronger performing categories
- Q4 net income decreased to $214.4 million from $250.5 million year-over-year
- Q4 EPS declined to $13.48 from $15.44 year-over-year
- Retail gross margin decreased to 36.1% from 37.7% in Q4
- Inventory increased 7% while sales declined
- Full-year net income fell to $593.5 million from $738.8 million
- Annual comparable store sales decreased 3%
- Men's apparel, accessories and shoes were weaker performing categories
Insights
Dillard's Q4 and fiscal 2024 results reveal a retailer navigating challenging consumer headwinds, with net income declining to $214.4 million ($13.48/share) in Q4 compared to $250.5 million last year, and full-year earnings dropping to $593.5 million ($36.82/share) from $738.8 million.
The 1% comparable store sales decline in Q4 and 3% drop for the full year reflect the broader department store sector's struggles with shifting consumer preferences. Most concerning is the 160 basis point compression in Q4 retail gross margin (36.1% vs. 37.7%), with significant deterioration in home/furniture and ladies' apparel categories – traditional department store strongholds. This margin erosion, coupled with a 7% inventory increase, signals potential merchandise misalignment that could necessitate deeper discounting in coming quarters.
While Dillard's maintained Q4 operating expense discipline at 22.4% of sales, the full-year expense ratio increased significantly to 26.7% (from 25.4%), primarily due to higher payroll costs. This expense deleverage on lower sales volume creates a concerning trajectory for profitability if sales don't recover.
The company's continued share repurchases ($14 million in Q4) with $273 million remaining authorization demonstrates management's confidence in long-term value, but the special dividend tax benefit of $30.8 million ($1.94/share) masks some of the operational challenges. Without this tax benefit, Q4 EPS would have been approximately $11.54, representing a steeper year-over-year decline.
Dillard's maintains a strong regional presence with 272 stores across 30 states, but its performance divergence across merchandise categories suggests uneven execution. The strength in cosmetics versus weakness in apparel and shoes highlights the department store dilemma – succeeding in categories facing less digital disruption while struggling in traditional merchandise segments.
For investors, the key question becomes whether Dillard's can reverse the margin deterioration while addressing inventory imbalances in an increasingly challenging retail environment characterized by cautious consumer spending and persistent inflationary pressures.
LITTLE ROCK, Ark., Feb. 25, 2025 (GLOBE NEWSWIRE) -- Dillard’s, Inc. (NYSE: DDS) (the “Company” or “Dillard’s”) announced operating results for the 13 and 52 weeks ended February 1, 2025 (fiscal 2024). The Company follows the 4-5-4 retail reporting calendar, which included a 53rd week in the 2023 fiscal year. Comparisons are made based on the 13 and 52 weeks ended February 1, 2025 and February 3, 2024 where appropriate and noted. This release contains certain forward-looking statements. Please refer to the Company’s cautionary statements included below under “Forward-Looking Information.”
Dillard’s Chief Executive Officer William T. Dillard, II stated, “With sales down
Highlights of the Fourth Quarter (compared to the prior year fourth quarter):
- Total retail sales decreased
1% for the 13-week to 13-week period - Comparable store sales decreased
1% for the 13-week to 13-week period - Net income of
$214.4 million compared to$250.5 million - Earnings per share of
$13.48 compared to$15.44 - Retail gross margin of
36.1% of sales compared to37.7% of sales - Operating expenses for 13 weeks were
$452.0 million (22.4% of 13-week sales) compared to$476.7 million for 14 weeks (22.4% of 14-week sales) - Ending inventory increased
7%
Fourth Quarter Results
Dillard’s reported net income for the 13 weeks ended February 1, 2025 of
Included in net income for the 14 weeks ended February 3, 2024 are the following tax-related benefits:
- federal and state income tax benefits of
$26.1 million ($1.61 per share) due to a deduction related to that portion of the special dividend of$20.00 per share that was paid to the Dillard's, Inc. Investment and Employee Stock Ownership Plan during the quarter - a net
$7.3 million ($0.45 per share) income tax benefit due to the release of valuation allowances primarily related to state net operating loss carryforwards
Sales – Fourth Quarter
Net sales for the 13 weeks ended February 1, 2025 and 14 weeks ended February 3, 2024 were
Total retail sales (which excludes CDI) for the 13 weeks ended February 1, 2025 and 14 weeks ended February 3, 2024 were
Gross Margin – Fourth Quarter
Consolidated gross margin for the 13 weeks ended February 1, 2025 was
Retail gross margin for the 13 weeks ended February 1, 2025 was
Inventory increased
Selling, General & Administrative Expenses – Fourth Quarter
Consolidated selling, general and administrative expenses (“operating expenses”) for the 13 weeks ended February 1, 2025 were
Highlights of the Fiscal Year (compared to the prior fiscal year):
- Total retail sales decreased
2% for the 52-week to 52-week period - Comparable store sales decreased
3% for the 52-week to 52-week period - Net income of
$593.5 million compared to$738.8 million - Earnings per share of
$36.82 compared to$44.73 - Retail gross margin of
41.0% of sales compared to41.8% of sales - Operating expenses were
$1,731.2 million for 52 weeks (26.7% of 52-week sales) compared to$1,717.4 million for 53 weeks (25.4% of 53-week sales)
Fiscal Year Results
Dillard’s reported net income for the 52 weeks ended February 1, 2025 of
Included in net income for the 53 weeks ended February 3, 2024 is a pretax gain of
- federal and state income tax benefits of
$26.1 million ($1.58 per share) due to a deduction related to that portion of the special dividend of$20.00 per share that was paid to the Dillard's, Inc. Investment and Employee Stock Ownership Plan during the year - a net
$9.8 million ($0.59 per share) income tax benefit due to the release of valuation allowances primarily related to state net operating loss carryforwards
Sales – Fiscal Year
Net sales for the 52 weeks ended February 1, 2025 and 53 weeks ended February 3, 2024 were
Total retail sales for the 52 weeks ended February 1, 2025 and 53 weeks ended February 3, 2024 were
Gross Margin – Fiscal Year
Consolidated gross margin for the 52 weeks ended February 1, 2025 was
Retail gross margin (which excludes CDI) for the 52 weeks ended February 1, 2025 was
Selling, General & Administrative Expenses – Fiscal Year
Operating expenses for the 52 weeks ended February 1, 2025 were
Share Repurchase
During the 13 weeks ended February 1, 2025 the Company purchased
Total shares outstanding (Class A and Class B Common Stock) at February 1, 2025 and February 3, 2024 were 15.9 million and 16.2 million, respectively.
Other Information
The Company operates 272 Dillard’s stores, including 28 clearance centers, spanning 30 states (totaling 46.3 million square feet) and an Internet store at dillards.com.
| Dillard’s, Inc. and Subsidiaries Condensed Consolidated Statements of Income (Unaudited) (In Millions, Except Per Share Data) | |||||||||||||||||||||||||||||
| 13 Weeks Ended | 14 Weeks Ended | 52 Weeks Ended | 53 Weeks Ended | ||||||||||||||||||||||||||
| February 1, 2025 | February 3, 2024 | February 1, 2025 | February 3, 2024 | ||||||||||||||||||||||||||
| % of | % of | % of | % of | ||||||||||||||||||||||||||
| Net | Net | Net | Net | ||||||||||||||||||||||||||
| Amount | Sales | Amount | Sales | Amount | Sales | Amount | Sales | ||||||||||||||||||||||
| Net sales | $ | 2,016.6 | 100.0 | % | $ | 2,124.4 | 100.0 | % | $ | 6,482.6 | 100.0 | % | $ | 6,752.1 | 100.0 | % | |||||||||||||
| Service charges and other income | 35.0 | 1.7 | 34.5 | 1.6 | 107.6 | 1.7 | 122.3 | 1.8 | |||||||||||||||||||||
| 2,051.6 | 101.7 | 2,158.9 | 101.6 | 6,590.2 | 101.7 | 6,874.4 | 101.8 | ||||||||||||||||||||||
| Cost of sales | 1,312.1 | 65.1 | 1,346.5 | 63.4 | 3,919.5 | 60.5 | 4,031.1 | 59.7 | |||||||||||||||||||||
| Selling, general and administrative expenses | 452.0 | 22.4 | 476.7 | 22.4 | 1,731.2 | 26.7 | 1,717.4 | 25.4 | |||||||||||||||||||||
| Depreciation and amortization | 41.3 | 2.0 | 44.3 | 2.1 | 177.9 | 2.7 | 179.6 | 2.7 | |||||||||||||||||||||
| Rentals | 6.5 | 0.3 | 7.3 | 0.3 | 21.4 | 0.3 | 21.6 | 0.3 | |||||||||||||||||||||
| Interest and debt (income) expense, net | (1.8 | ) | (0.1 | ) | (3.1 | ) | (0.1 | ) | (13.7 | ) | (0.2 | ) | (4.6 | ) | (0.1 | ) | |||||||||||||
| Other expense | 6.2 | 0.3 | 4.7 | 0.2 | 24.7 | 0.4 | 18.8 | 0.3 | |||||||||||||||||||||
| Gain on disposal of assets | — | 0.0 | — | 0.0 | 0.5 | 0.0 | 6.1 | 0.1 | |||||||||||||||||||||
| Income before income taxes | 235.3 | 11.7 | 282.5 | 13.3 | 729.7 | 11.3 | 916.6 | 13.6 | |||||||||||||||||||||
| Income taxes | 20.9 | 32.0 | 136.2 | 177.8 | |||||||||||||||||||||||||
| Net income | $ | 214.4 | 10.6 | % | $ | 250.5 | 11.8 | % | $ | 593.5 | 9.2 | % | $ | 738.8 | 10.9 | % | |||||||||||||
| Basic and diluted earnings per share | $ | 13.48 | $ | 15.44 | $ | 36.82 | $ | 44.73 | |||||||||||||||||||||
| Basic and diluted weighted average shares outstanding | 15.9 | 16.2 | 16.1 | 16.5 | |||||||||||||||||||||||||
| Dillard’s, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (Unaudited) (In Millions) | ||||||
| February 1, | February 3, | |||||
| 2025 | 2024 | |||||
| Assets | ||||||
| Current assets: | ||||||
| Cash and cash equivalents | $ | 717.9 | $ | 808.3 | ||
| Accounts receivable | 55.7 | 60.6 | ||||
| Short-term investments | 325.7 | 148.0 | ||||
| Merchandise inventories | 1,172.0 | 1,094.0 | ||||
| Other current assets | 96.8 | 97.3 | ||||
| Total current assets | 2,368.1 | 2,208.2 | ||||
| Property and equipment, net | 1,002.2 | 1,074.3 | ||||
| Operating lease assets | 33.6 | 42.7 | ||||
| Deferred income taxes | 69.1 | 63.9 | ||||
| Other assets | 58.1 | 59.8 | ||||
| Total assets | $ | 3,531.1 | $ | 3,448.9 | ||
| Liabilities and stockholders’ equity | ||||||
| Current liabilities: | ||||||
| Trade accounts payable and accrued expenses | $ | 795.0 | $ | 782.5 | ||
| Current portion of operating lease liabilities | 11.4 | 11.3 | ||||
| Federal and state income taxes | 28.5 | 34.0 | ||||
| Total current liabilities | 834.9 | 827.8 | ||||
| Long-term debt | 321.6 | 321.4 | ||||
| Operating lease liabilities | 22.3 | 31.7 | ||||
| Other liabilities | 356.1 | 370.9 | ||||
| Subordinated debentures | 200.0 | 200.0 | ||||
| Stockholders’ equity | 1,796.2 | 1,697.1 | ||||
| Total liabilities and stockholders’ equity | $ | 3,531.1 | $ | 3,448.9 | ||
| Dillard’s, Inc. and Subsidiaries Condensed Consolidated Statements of Cash Flows (Unaudited) (In Millions) | ||||||||
| 52 Weeks Ended | 53 Weeks Ended | |||||||
| February 1, | February 3, | |||||||
| 2025 | 2024 | |||||||
| Operating activities: | ||||||||
| Net income | $ | 593.5 | $ | 738.8 | ||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
| Depreciation and amortization of property and other deferred costs | 179.5 | 181.2 | ||||||
| Deferred income taxes | (9.0 | ) | (17.7 | ) | ||||
| Gain on disposal of assets | (0.5 | ) | (6.1 | ) | ||||
| Accrued interest on short-term investments | (11.8 | ) | (5.7 | ) | ||||
| Changes in operating assets and liabilities: | ||||||||
| Decrease (increase) in accounts receivable | 4.8 | (3.6 | ) | |||||
| (Increase) decrease in merchandise inventories | (78.0 | ) | 26.2 | |||||
| Decrease (increase) in other current assets | 2.3 | (7.8 | ) | |||||
| Increase in other assets | (0.8 | ) | (4.6 | ) | ||||
| Increase (decrease) in trade accounts payable and accrued expenses and other liabilities | 36.5 | (22.5 | ) | |||||
| (Decrease) increase in income taxes | (2.4 | ) | 5.4 | |||||
| Net cash provided by operating activities | 714.1 | 883.6 | ||||||
| Investing activities: | ||||||||
| Purchase of property and equipment and capitalized software | (104.6 | ) | (132.9 | ) | ||||
| Proceeds from disposal of assets | 0.7 | 6.3 | ||||||
| Proceeds from insurance | — | 4.5 | ||||||
| Purchase of short-term investments | (696.7 | ) | (295.4 | ) | ||||
| Proceeds from maturities of short-term investments | 530.9 | 301.9 | ||||||
| Net cash used in investing activities | (269.7 | ) | (115.6 | ) | ||||
| Financing activities: | ||||||||
| Cash dividends paid | (413.8 | ) | (338.6 | ) | ||||
| Purchase of treasury stock | (121.0 | ) | (281.4 | ) | ||||
| Net cash used in financing activities | (534.8 | ) | (620.0 | ) | ||||
| (Decrease) increase in cash and cash equivalents and restricted cash | (90.4 | ) | 148.0 | |||||
| Cash and cash equivalents and restricted cash, beginning of period | 808.3 | 660.3 | ||||||
| Cash and cash equivalents, end of period | $ | 717.9 | $ | 808.3 | ||||
| Non-cash transactions: | ||||||||
| Accrued capital expenditures | $ | 6.8 | $ | 6.2 | ||||
| Accrued purchase of treasury stock and excise taxes | 1.2 | 2.8 | ||||||
| Stock awards | 4.2 | 4.5 | ||||||
| Lease assets obtained in exchange for new operating lease liabilities | 2.9 | 20.5 | ||||||
Estimates for 2025
The Company is providing the following estimates for certain financial statement items for the 52-week period ending January 31, 2026 based upon current conditions. Actual results may differ significantly from these estimates as conditions and factors change - See “Forward-Looking Information.”
| In Millions | ||||||||
| 2025 | 2024 | |||||||
| Estimated | Actual | |||||||
| Depreciation and amortization | $ | 180 | $ | 178 | ||||
| Rentals | 20 | 21 | ||||||
| Interest and debt (income) expense, net | (8 | ) | (14 | ) | ||||
| Capital expenditures | 120 | 105 | ||||||
Forward-Looking Information
This report contains certain forward-looking statements. The following are or may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995: (a) statements including words such as “may,” “will,” “could,” “should,” “believe,” “expect,” “future,” “potential,” “anticipate,” “intend,” “plan,” “estimate,” “continue,” or the negative or other variations thereof; (b) statements regarding matters that are not historical facts; and (c) statements about the Company’s future occurrences, plans and objectives, including statements regarding management’s expectations and forecasts for the 52-week period ended January 31, 2026 and beyond, statements concerning the opening of new stores or the closing of existing stores, statements concerning capital expenditures and sources of liquidity and statements concerning estimated taxes. The Company cautions that forward-looking statements contained in this report are based on estimates, projections, beliefs and assumptions of management and information available to management at the time of such statements and are not guarantees of future performance. The Company disclaims any obligation to update or revise any forward-looking statements based on the occurrence of future events, the receipt of new information or otherwise. Forward-looking statements of the Company involve risks and uncertainties and are subject to change based on various important factors. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements made by the Company and its management as a result of a number of risks, uncertainties and assumptions. Representative examples of those factors include (without limitation) general retail industry conditions and macro-economic conditions including inflation, higher interest rates, a potential U.S. Federal government shutdown, economic recession and changes in traffic at malls and shopping centers; economic and weather conditions for regions in which the Company’s stores are located and the effect of these factors on the buying patterns of the Company’s customers, including the effect of changes in prices and availability of oil and natural gas; the availability of and interest rates on consumer credit; the impact of competitive pressures in the department store industry and other retail channels including specialty, off-price, discount and Internet retailers; changes in the Company’s ability to meet labor needs amid nationwide labor shortages and an intense competition for talent; changes in consumer spending patterns, debt levels and their ability to meet credit obligations; high levels of unemployment; changes in tax legislation (including the Inflation Reduction Act of 2022); changes in legislation and governmental regulations affecting trade restrictions, including tariffs, and such matters as the cost of employee benefits or credit card income, such as the Consumer Financial Protection Bureau’s recent amendment to Regulation Z to limit the dollar amounts credit card companies can charge for late fees; adequate and stable availability and pricing of materials, production facilities and labor from which the Company sources its merchandise; changes in operating expenses, including employee wages, commission structures and related benefits; system failures or data security breaches; possible future acquisitions of store properties from other department store operators; the continued availability of financing in amounts and at the terms necessary to support the Company’s future business; fluctuations in SOFR and other base borrowing rates; potential disruption from terrorist activity and the effect on ongoing consumer confidence; epidemic, pandemic or public health issues and their effects on public health, our supply chain, the health and well-being of our employees and customers and the retail industry in general; potential disruption of international trade and supply chain efficiencies; global conflicts (including the ongoing conflicts in the Middle East and Ukraine) and the possible impact on consumer spending patterns and other economic and demographic changes of similar or dissimilar nature, and other risks and uncertainties, including those detailed from time to time in our periodic reports filed with the Securities and Exchange Commission, particularly those set forth under the caption “Item 1A, Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended February 3, 2024.
CONTACT:
Dillard’s, Inc.
Julie J. Guymon
501-376-5965
julie.guymon@dillards.com
FAQ
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