Fuck Dillard’s. Raise of hands for those of you who’ve been to a Dillard’s over the past decade. I don’t think I’ve ever frequented this store.
They missed by 40 cents and everything was bad. Shareholders are in the streets, blah, blah, blah. Markets climbed up from the pits of hell today, because of oil.
In short, earnings mean nothing. The economy is solely reliant upon the men in 10 gallon hats and The House of Saud. As such, whatever happens to them will happen to you.
- Reports Q1 (Apr) earnings of $2.17 per share, $0.40 worse than the Capital IQ Consensus of $2.57; revenues fell 4.5% year/year to $1.5 bln vs the $1.55 bln Capital IQ Consensus.
- Total merchandise sales decreased 5% for the 13-week period ended April 30, 2016. Sales in comparable stores for the period also decreased 5%.
- Gross margin from retail operations (which excludes CDI) declined 145 basis points of sales for the 13 weeks ended April 30, 2016 compared to the prior year first quarter. The decline in gross margin was attributed primarily to higher markdowns during the period. Consolidated gross margin for the 13 weeks ended April 30, 2016 declined 140 basis points of sales compared to the prior year first quarter. Inventory remained unchanged on a percentage basis at April 30, 2016 compared to May 2, 2015.
- 2016 Guidance: Co continues to see CapEx of $150-166 mln
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