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Dillard’s releases record Q3 financial results, comparable retail sales increases 48%

Friday, Nov 12, 2021

Dillard’s has announced record third quarter operating results, showcasing strength in comparable retail sales. 

Selected Q3 Financial Metrics:

  • Comparable retail sales increased 48%
  • Net income of $197.3 million compared to net income of $31.9 million
  • Net income of $9.81 per share compared to net income of $1.43 per share
  • Retail gross margin of 46.7% compared to 36.6%
  • Operating expenses were $393.2 million (26.5% of sales) compared to $318.2 million (31.0% of sales)
  • Share repurchases of $239.2 million (approximately 1.2 million shares)
  • Cash flow provided by operations of $728.0 million compared to $62.9 million of cash used in operations (39 weeks)
  • Ending cash of $619.7 million compared to $61.1 million with no short-term borrowings compared to $15.0 million

“We are pleased to report another record quarter. Continued strong sales combined with record gross margin and expense control produced $197 million of net income. We ended the quarter in another strong cash position of $620 million after repurchasing $239 million of stock,” said Dillard’s Chief Executive Officer, William T. Dillard.

Compared to pre-pandemic numbers in 2019, store retail sales for the first 39 weeks of 2021 increased 7%.

Source: Dillard’s Press Release
Photo Credit: Dillard’s Locations

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