It wasn’t much, but they’ll take it.
Dillard’s Inc. reported early Thursday that total retail sales and comparable-store sales nudged ahead 1 percent in the second quarter ended Aug. 1. In the same period, tariff refunds helped push the company’s net income ahead 34 percent.
In the 13-week period, net income rose to $97.7 million, or $6.25 a share, compared to $72.8 million, or $4.66 a share in the prior year. This includes $37.2 million, or $28.4 million after tax, in refunds from the International Emergency Economic Powers Act. Total retail sales in the period rose to $1.46 billion and gross margins ticked up to 40.9 percent of sales from 38.1 percent in the second quarter of last year.
During the second quarter, sales increased “significantly” in women’s accessories and lingerie and moderately in home and furniture, the company said. In shoes, men’s apparel and accessories and cosmetics, the company noted “slight sales increases,” and in juniors’ and children’s apparel and women’s apparel, sales “decreased moderately,” Dillard’s said.
In terms of gross margin by category, and adjusted for the tariff refund, Dillard’s posted a moderate increase in women’s apparel, a slight increase in cosmetics, home and furniture, flat gross margin in juniors’ and children’s apparel and a slight decrease in men’s apparel and accessories and shoes. Retail gross margin fell moderately in women’s accessories and lingerie, the company said.
