Dillard's, Inc. announced its operating results for the 13 weeks ended November 2, 2024, reporting net income of $124.6 million, or $7.73 per share. This EPS figure surpassed analyst consensus estimates of $6.47 per share.
Net sales for the third quarter totaled $1.427 billion, which also exceeded Street forecasts of $1.42 billion. However, total retail sales decreased by 4% compared to the prior year, with comparable store sales also declining by 4%.
Consolidated gross margin for the quarter was 42.6% of sales, down from 43.5% in the prior year period. Inventory levels increased by 3% at November 2, 2024, compared to the previous year. The company continued its capital return program, repurchasing $107.0 million of Class A Common Stock during the quarter.
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