Leading fashion apparel, cosmetics and home furnishings retailer Dillard’s Inc. (DDS) reported a sales increase of 3% and comparable store sales increase of 4% for a 36-day period, which ended on January 1, 2012. Total sales for the period rose to $1.11 billion versus $1.08 billion recorded in the same period last year.
Geographically, sales for the 36-day period gained due to better-than-expected sales trends in the Central region, offset by slightly weak trend in the Eastern and Western regions. Product-wise, sales trends for shoes and cosmetics lived up to the company’s expectations in the 36-day period. However, sales for home and furniture categories significantly missed expectations.
For the 48 weeks ended January 1, 2012, the company’s sales numbers totaled $5.84 billion, again registering an increase of 3% from total sales of $5.65 billion in the same period last year. Comparable store sales increased 4% for the 48 weeks ended January 1, 2012.
Based in Little Rock, Arkansas, Dillard's Inc. is a large departmental store chain, featuring fashion apparel and home furnishings in the United States. Dillard's, which competes with Macy’s Inc. (M) and J. C. Penny (JCP), operates 288 department stores and 16 clearance centers in 29 states. It also has an e-commerce website at www.dillards.com.
Dillard's shares maintain a Zacks #3 Rank, which translates into a short-term ‘Hold’ rating. Our long-term recommendation on the stock remains ‘Outperform’.
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