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Stock Alert: Dillard's Jumps 14%

Shares of luxury department store chain Dillard's, Inc. (DDS) are rising more than 14% Friday.

Yesterday, in its first-quarter earnings release, the company said, it has re-opened 149 of its stores including clearance centers, which were closed due to coronavirus pandemic. The company also said it plans to re-open another 116 stores and 5 clearance centers next week. With this, 241 Dillard's stores out of 285 would be open.

Dillard's also said the 45 stores that opened on May 5 have earned sales of approximately 56% of last year's number while operating at reduced hours.

In the first quarter, Dillard's reported a net loss of $162 million, or $6.94 a share, compared with net income of $78.6 million, or $2.99 a share, in the year-ago quarter.

Net sales fell 46% to $786.7 million from $1.46 billion a year ago.

Dillard's stock is currently trading at $26.50. It has traded in the range of $21.50- $86.71 in the last one year.

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