Exhibit 99

Dillard’s, Inc. Reports Third Quarter Results


LITTLE ROCK, Ark.--(BUSINESS WIRE)--November 15, 2018--Dillard’s, Inc. (NYSE: DDS) (the “Company” or “Dillard’s”) announced operating results for the 13 and 39 weeks ended November 3, 2018. This release contains certain forward-looking statements. Please refer to the Company’s cautionary statements regarding forward-looking information included below under “Forward-Looking Information.”

39-Week Results

Dillard’s reported net income for the 39 weeks ended November 3, 2018 of $85.1 million, or $3.08 per share, compared to net income of $63.8 million, or $2.14 per share, for the 39-week period ended October 28, 2017. Included in net income for the 39-week period ended November 3, 2018 is $2.9 million ($0.10 per share) in tax benefits related to additional federal tax credits and an update of the provisional amounts recorded for the income tax effects of the Tax Cuts and Jobs Act of 2017.

Included in net income for the 39-week period ended October 28, 2017 is a pretax gain on disposal of assets of $4.9 million ($3.1 million after tax or $0.10 per share) and $0.8 million loss on extinguishment of debt ($0.5 million after tax or $0.02 per share).

Net sales for the 39 weeks ended November 3, 2018 and for the 39 weeks ended October 28, 2017 were $4.346 billion and $4.201 billion, respectively. Net sales includes the operations of the Company’s construction business, CDI Contractors, LLC ("CDI").

Total merchandise sales (which excludes CDI) for the 39-week period ended November 3, 2018 were $4.162 billion and $4.084 billion for the 39-week period ended October 28, 2017. Total merchandise sales increased 2% for the 39-week period ended November 3, 2018. Sales in comparable stores for the period also increased 2%.

Third Quarter Results

Dillard’s reported net income for the 13 weeks ended November 3, 2018 of $7.4 million, or $0.27 per share, compared to net income of $14.5 million, or $0.50 per share, for the prior year third quarter. Included in net income for the 13-week period ended November 3, 2018 is $2.9 million ($0.11 per share) in tax benefits related to additional federal tax credits and an update of the provisional amounts recorded for the income tax effects of the Tax Cuts and Jobs Act of 2017.

Included in net income for the prior year 13-week period ended October 28, 2017 is a pretax gain on disposal of assets of $4.8 million ($3.1 million after tax or $0.11 per share) and $0.8 million loss on extinguishment of debt ($0.5 million after tax or $0.02 per share).

Dillard’s Chief Executive Officer William T. Dillard, II, stated, "While we are encouraged by our 3% comparable sales performance, this was a disappointing quarter as markdowns weighed heavily on gross margin, particularly in the first month. However, operating performance improved as the quarter progressed and sales turned positive. We also invested $54 million in share repurchases during the quarter.”

Net sales for the 13 weeks ended November 3, 2018 and for the 13 weeks ended October 28, 2017 were $1.419 billion and $1.355 billion, respectively.
 
Total merchandise sales for the 13-week period ended November 3, 2018 were $1.342 billion and $1.313 billion for the 13-week period ended October 28, 2017. Total merchandise sales increased 2% for the 13-week period ended November 3, 2018. Sales in comparable stores for the period increased 3%. In relation to the total company sales trend, above trend performances were noted in ladies' accessories and lingerie followed by juniors' and children's apparel. Sales were slightly above trend in men's apparel and accessories and home and furniture. Sales were consistent with trend in shoes, slightly below trend in ladies' apparel and below trend in cosmetics. Sales were strongest in the Western region followed by the Eastern and Central regions, respectively.

Gross Margin/Inventory

Gross margin from retail operations (which excludes CDI) improved 18 basis points of sales for the 39 weeks ended November 3, 2018 compared to the prior year 39-week period. Consolidated gross margin for the 39 weeks ended November 3, 2018 declined 30 basis points of sales compared to the prior year 39-week period.

Gross margin from retail operations declined 87 basis points of sales for the 13 weeks ended November 3, 2018 compared to the prior year third quarter due to increased markdowns. Consolidated gross margin for the 13 weeks ended November 3, 2018 declined 160 basis points of sales compared to the prior year third quarter, considerably more than that of retail operations alone due to increased volume at CDI, a lower gross margin business.

Inventory increased 4% at November 3, 2018 compared to October 28, 2017. On a comparable calendar basis, which compares November 3, 2018 (seven weeks from the Christmas holiday) to November 4, 2017, inventory increased 2%.









The following information was filed by Dillard's, Inc. (DDS) on Thursday, November 15, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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