logo
  

Dillard's Posts Q1 Loss, Re-opens 149 Locations; Shares Up 6%

Dillard's, Inc. (DDS) Thursday reported first quarter loss of $162.0 million or $6.94 per share, compared to net income of $78.6 million or $2.99 per share last year.

Net sales for the quarter was $786.7 million, down from $1.47 billion last year.

Analysts polled by Thomson Reuters estimated earnings of $0.08 per share and revenues of $1.09 billion.

Dillard's said it has re-opened149 locations to date, including 24 clearance centers. The Company currently plans to re-open 116 Dillard's stores and 5 clearance centers next week.

CEO William Dillard said, "COVID-19 has impacted every aspect of our business. The mall business in general and department stores, specifically, have been particularly hard hit. While our balance sheet was already strong, we took decisive, sometimes difficult, actions to preserve liquidity and ensure our long-term viability. As we re-open stores, we see positive things happening. We believe people are ready to get out and shop. We are hoping this is the start of better times."

DDS closed Thursday's trading at $23.08, down $0.95 or 3.95%, on the NYSE. The stock, however, gained $1.37 or 5.94% in the after-hours trade.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Boeing expects Europe's commercial aviation fleet to need 8,705 new airplanes through 2040 to cater to the growing leisure travel market in the region and fleet replacements with more fuel-efficient models, according to the Boeing's 2021 Commercial Market Outlook (CMO), an annual forecast of long-term demand for commercial airplanes and services. The U.S. Food and Drug Administration authorized marketing of a software developed by Paige.AI, a provider of AI-based digital diagnostics, which could help pathologists to identify prostate cancer. The software, called Paige Prostate, is the first and only artificial intelligence or AI-based pathology product to receive FDA approval for in vitro diagnostic or IVD use in detecting cancer... General Mills (GIS) said its first-quarter top- and bottom-line results were ahead of its expectations. The company also reaffirmed its fiscal 2022 outlook. Looking forward, General Mills anticipates changes in consumer behaviors driven by the COVID-19 pandemic will result in ongoing elevated consumer...
RELATED NEWS
Follow RTT