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Dillard's Q2 Results Miss Street, Shares Sink 14%

Shares of Dillard's Inc. (DDS) plunged about 14% in the extended session Thursday after the company's second-quarter results missed Wall Street analysts' estimates.

Little Rock, Arkansas-based Dillard's second-quarter loss widened to $40.7 million or $1.59 a share from last year's loss of $2.9 million, or $0.10 a share.

Revenues for the quarter fell to $1.46 billion from $1.50 billion in the year-ago period.

Analysts polled by Thomson Reuters had estimated loss of $0.70 per share and revenues of $1.49 billion.

Comparable store sales decreased 2% against a 1% increase a year ago, while retail gross margin declined 319 basis points of sales.

DDS closed Thursday's trading at $56.59, down $2.17 or 3.69%, on the Nasdaq. The stock further dropped $8.07 or 14.26% on the NYSE.

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