Dillard's Q2 Loss Narrows

Luxury department store chain Dillard's, Inc. (DDS), Thursday reported second-quarter loss of $8.6 million or $0.37 per share, narrower than last year's loss of $40.7 million or $1.59 per share last year.

Net sales for the quarter dropped to $945.1 million from $1.46 billion last year.

Analysts polled by Thomson Reuters estimated loss of $4.54 per share on revenues of $1.01 billion for the quarter.

Retail gross margin improved 239 basis points of sales to 31.1% compared to 28.7% for the prior year second quarter. All Dillard's store locations were re-opened by June 2, 2020. All stores remain open and operating under reduced hours with the exception of one location, the company said in a statement.

DDS closed Thursday's trading at $27.06, up $0.21 or 0.78%, on the NYSE. The stock further gained $3.86 or 14.25% in the after-hours trade.

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