Dillard’s, Inc. (NYSE:DDS) stock took a hit today after the retailer reported second-quarter earnings below estimates.
Losses per share of 58 cents in the second quarter of 2017 was bad news for DDS stock. Theses losses come in far below its earnings per share of 35 cents from the second quarter of 2016. They also failed to reach Wall Street’s earnings per share estimate of 19 cents for the quarter.
Dillard’s, Inc. also reported revenue of $1.48 billion for the second quarter of the year. This is down from its revenue of $1.49 billion from the same time last year. However, it did just barely beat analysts’ revenue estimate of $1.44 billion for the second quarter of 2017.
A net loss of $17.1 million was reported by Dillard’s, Inc. in the second quarter of the year. The company reported net income of $12.1 million during the same period of the year prior.
Dillard’s, Inc. notes that its total merchandise sales for the second quarter of 2017 were down by 1% when compared to the same time last year. It says that comparable store sales were also down by 1% during the quarter.
Dillard’s, Inc. is expecting depreciation and amortization for 2017 to be $240 million, which is down from 2016’s $244 million. It is also looking for rentals in 2017 to be $28 million, net interest and debt expense of $63 million and capital expenditures of $125 million. Rentals in 2016 were $26 million, net interest and debt expense was$63 million and capital expenditures were $105 million in 2016.
DDS stock was down 14% as of Thursday morning and is flat year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.