Dillard’s has recently reported their operating and financial results for Q1 of 2022.
“Our customer responded well to our merchandise in the first quarter producing a 23% increase in same-store sales. From this strong sell through, we reported a record high retail gross margin of 47.3% leading to net income of $251 million or $13.68 per share. We ended the quarter with $862 million in cash after share repurchases totaling $187 million,” said Chief Executive Officer William T. Dillard, II.
First Quarter Highlights:
- Comparable retail sales increased 23%
- Net income of $251.1 million compared to net income of $158.2 million
- Net income of $13.68 per share compared to net income of $7.25 per share
- Retail gross margin of 47.3% of sales compared to 42.6% of sales
- Operating expenses were $400.8 million (24.9% of sales) compared to $336.6 million (25.3% of sales)
- Cash flow provided by operations of $365.2 million compared to $302.4 million
- Share repurchase of $186.5 million (approximately 735,000 shares)
- Ending cash of $862.2 million compared to $615.9 million
Source: Dillard’s Press Release
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