Dillard's 1Q profit falls |
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Wed, 23 May 2007 13:41
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LITTLE ROCK, Ark. (AP) - Department-store operator Dillard's Inc. on Wednesday said fiscal first-quarter profit fell 30 percent, as lower sales of juniors' and children's apparel cut revenue.Profit for the quarter ended May 5 totaled $42.9 million, or 53 cents per share, from $61.3 million, or 77 cents per share a year ago. Current quarter results include a 3-cent per share hurricane recovery gain. Revenue fell 4 percent to $1.76 billion, from $1.84 million last year.Analysts polled by Thomson Financial expected a profit of 73 cents per share on revenue of $1.8 billion.Same-store sales, or sales in stores open at least one year, fell 5 percent. Same-store sales is considered a key gauge of a retailer's financial strength because it measures growth from established stores rather than growth from new stores.Sales of shoes were strong, but sales of juniors' and children's clothing declined, Dillard's said.Shares fell 78 cents, or 2 percent, to $38.87 during premarket electronic trading, after closing Tuesday at $39.55.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Dillard's March same-store sales rise 