Dillard's Inc. (DDS), a leading apparel and home-furnishing retailer, reported growth of 4.0% in same-store sales for the four-week period ended August 27, 2011. Merchandise sales for the period shot up 3.5% to $441.7 million compared with $426.8 million in the four-week period ended August 28, 2010. While total sales for the period increased 3.0% from the prior-year period.
Sales in the Central region were better than the average total company sales, while it was soft in the Western region and Eastern region. Category wise, sales in junior's and children's apparel categories were substantially above trend.
Comparable store sales for the thirty-week period ended August 27, 2011 increased 4% while total sales inched up 3.0%. Merchandise sales jumped 3.4% to $3,327.1 million from $3,217.3 million in the prior-year period.
Kohl's Corporation (KSS), which competes with Dillard's, reported a negative 1.9% growth in August same-store sales, with total sales decreasing 0.1%. Another peer, J.C. Penney Company Inc. (JCP), reported a decline of 1.9% in same-store sales with total sales falling 4.5%. Same-store sales of another competitor Macy's Inc. (M) increased 5.0% while total sales climbed 4.9%.
Based in Little Rock, Arkansas, Dillard's is a large departmental store chain in the United States featuring fashion apparel and home furnishings. The company currently operates 291 stores and 14 clearance centers across 29 states, all under the Dillard's brand name. Dillard's stores are mainly located in the Southwest, Southeast and Midwest regions of the US.
The company's primary product categories include: women's and junior's apparel; shoes; accessories and lingerie; men's clothing and accessories; cosmetics; home; and children's clothing. Its merchandise mix consists of both branded and private-label items.
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.
DILLARDS INC-A (DDS): Free Stock Analysis Report
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