Dillard’s reported earnings of $6.25 per share, well above the analyst estimate of $4.27. Net income rose to $97.7 million from $72.8 million a year earlier, while earnings increased from $4.66 per share.
Net sales totaled $1.508 billion, narrowly missing the $1.522 billion analyst estimate and slipping from $1.514 billion a year earlier. Total retail sales, excluding the company’s construction business, rose 1% to $1.455 billion. Comparable-store sales also increased 1%.
Tariff Refunds Give Earnings A Boost
Second-quarter results included $37.2 million in refunds related to International Emergency Economic Powers Act tariffs. The refunds contributed $28.4 million after taxes, or $1.82 per share, to earnings.
By comparison, the year-ago quarter included a $4.8 million pretax gain, or $3.7 million after taxes, primarily from the sale of three properties.
