DDS: Dillard’s Stock Rallies on Earnings Beat

But quarterly revenue was slightly below forecasts

   

DDS: Dillard’s Stock Rallies on Earnings Beat

On Thursday, Dillard’s (DDS) posted fiscal first-quarter earnings that topped estimates. DDS stock soared about 13% in Friday morning trading.

Dillards store 630 300x194 DDS: Dillards Stock Rallies on Earnings Beat
Source: Flickr

DDS shares gained after Dillard’s said it earned an adjusted $2.56 per shared during the quarter. That beat the profit of $2.38 per share that analysts were expecting. Overall quarterly revenue of $1.59 billion fell slightly below the $1.6 billion that analysts had forecast, Zacks noted.

Net sales climbed 3.4% compared to the prior-year quarter. DDS said that men’s apparel and accessories sold especially well during the quarter, while children’s and junior apparel also performed well. Home products and furniture saw the weakest sales. Dillard’s operates 278 branded stores and 18 outlet locations in 29 states.

At the end of the quarter, DDS reported cash and cash equivalents of $312.1 million, double the $156 million it reported during the prior-year period.

Dillard’s stock closed at $96.60 a share on Thursday.

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Article printed from InvestorPlace Media, http://investorplace.com/2014/05/dds-dillards-stock-rallies-earnings-beat/.

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