Dillard’s apparel sales strengthen Q1 revenue and margins
What: Dillard’s reported that total retail sales (excluding the company’s construction business) rose 22% to USD1.6 billion, with store comps up 23% year over year.
Why is it important: Retail gross margin expanded to 47.3% of sales, a record high, from 42.6% a year ago, per a company press release. The strongest categories were men’s apparel and accessories, women’s apparel, and junior’s apparel.
Net income rose 59% year over year to USD251.1 million. Dillard’s ended the quarter with USD862 million in cash after the share repurchases.
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