Dillard's Inc. on Monday reported a profit of $130.5 million for its fourth quarter, a 9.6 percent increase from the same period in the previous fiscal year.
The Little Rock-based department store had earnings of $3.17 per share for the period that ended Jan. 31, compared with $2.71 per share during the same quarter in the previous year.
"We finished 2014 with our best sales performance of the year in the most important quarter," said William Dillard, chief executive officer of the Little Rock-based department store, in a prepared statement.
"Our 3 percent sales increase was supported by a strong 103-basis-point retail gross margin improvement, as customers responded well to our improved mix and service throughout the holiday season," he said.
Dillard's took in $2.18 billion in revenue during the fourth quarter, up from $2.08 billion during the same period last year.
Dillard's shares gained 76 cents, or 0.62 percent, to close at $123.49 Monday on the New York Stock Exchange.
The retailer released its financial results after the markets closed. But the company's shares have seen upward movement in the past few months, trading between $82.75 and $126.83 during the past 52 weeks.
"The general overall trend for the last quarter has been a positive one," said Bob Williams, senior vice president and managing director of Simmons First Investment Group Inc. in Little Rock, about the company's stock performance.
Dillard's sales were strongest in ladies apparel and shoes, and weakest in the home and furniture category.
The company's total merchandise sales, which exclude operations for CDI Contractors, its construction business, increased from $2.01 billion to $2.07 billion during the quarter. Sales in comparable stores rose 3 percent.
For the year, Dillard's bought back 2.8 million shares of its common stock for an average price of $104.44 per share -- an outlay of $290.4 million -- under the company's repurchasing plans.
Dillard's closed a store in Sarasota, Fla., during the quarter. The company has 277 locations and 20 clearance centers in 29 states.
For the year, Dillard's earned $331.9 million in profit, compared with $323.7 million during the 2013 fiscal year.
Total revenue for the year was $6.8 billion, up from $6.7 billion the previous year.
Business on 02/24/2015