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Dillard’s Q2 2012 profit surges

Published 09 August 2012

Department stores chain Dillard’s reported an increase in its net income to $31m for the second quarter ended 28 July 2012 as compared to $17.6m for the corresponding period last year.

The US-based company said that the net sales for the quarter were $1.48bn compared to the $1.44bn for the same period in 2011.

The second quarter results claimed are a result of the 3% increase in comparable store sales and repurchase of $134.6 million of Class A Common Stock.

Operating expense leverage of 70 basis points on sales and merchandise and gross margin improvement of 70 basis points on sales also boosted the profits.

Dillard's CEO William T. Dillard, II, said that the company reported 97% increase in second quarter earnings per share owing to the continuous momentum of a successful first quarter.

Dillard's said that strong sales were reported in ladies' accessories and lingerie, followed by shoes and cosmetics, while home and furniture and juniors' and children's apparel performed weak.