Dillard’s has released financial results for their fourth quarter and 2021 fiscal year. Comparable retail sales increased 37% for the retailer with net income of $321.2 million, ending their fiscal year on a strong note. Q4 Highlights:
- Comparable retail sales increased 37%
- Comparable retail sales increased 12% compared to the fourth quarter of 2019
- Net income of $321.2 million compared to net income of $67.0 million
- Net income of $16.61 per share compared to net income of $3.05 per share
- Retail gross margin of 41.4% of sales compared to 31.9% of sales
- Operating expenses were $440.9 million (20.9% of sales) compared to $335.8 million (21.4% of sales)
- Record cash flow provided by operations (52 weeks) of $1.280 billion compared to $0.253 billion
- Share repurchase of $150.8 million (approximately 615,000 shares)
- Ending cash of $716.8 million compared to $360.3 million
“We ended fiscal 2021 on a very strong note with a fourth consecutive record quarter. Our fiscal year net income of $41.88 per share exceeds any annual performance in our history. Importantly, during the year, we returned $866 million to our shareholders through dividends and share buyback, while still ending the year with $717 million in cash,” said William T. Dillard, Dillard’s Chief Executive Officer.
Source: Dillard’s Press Release
Photo Credit: Dillard’s
