Apparel and home furnishing retailer Dillard's, Inc. (DDS) Thursday reported a decrease in both total and comparable store sales for the month of September 2009.
The Little Rock Arkansas-based company's merchandise sales for the month was $519.26 million as against $568.47 million in the previous-year period. Total sales during September fell 9%. Comparable store sales for the five-week period declined 6%.
Previously, for the month of August 2009, Dillard's had reported merchandise sales of $431.10 million compared with $500.78 million in the same period last year. Comparable store sales was reported to be down 12%.
For the year-to-date period, merchandise sales slipped to $3.73 billion from $4.36 billion in the corresponding period prior year. The company's total sales was down 14%. Comparable store sales for the period dipped 12%.
During the month, Dillard's noted that sales were slightly above the average total company trend in the Eastern region, consistent with trend in the Central region, and below trend in the Western region.
Dillard's stated that sales performances in home and furniture segment and men's segment were significantly below trend. Sales of shoes during the period were noted to be stronger than trend.
For the second quarter of fiscal 2009, the company's net loss narrowed to $26.7 million or $0.36 per share from a loss of $38.3 million or $0.51 per share a year ago. Net sales for the quarter was $1.43 billion versus $1.61 billion in the second quarter of fiscal 2008. Analysts expected Dillard's to report a loss of $0.56 per share.
During the quarter, the company closed its Tullahoma, Tennessee location, and identified five other locations for closure during 2009 and remains committed to closing under-performing stores where needed.
At August 1, 2009, Dillard's operated 304 Dillard's locations and 10 clearance centers spanning 29 states and an internet store.
DDS is currently trading at $14.80 per share, up 1.16%, on the New York Stock Exchange.
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