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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Dillard's Earnings Drop 0 comments
    Feb 24, 2014 11:22 AM | about stocks: DDS

    Originally published at www.seclive.com

    Dillard's Inc. (NYSE:DDS) announced its financial results for the fourth quarter and full 2013 fiscal year, reporting a drop in earnings from a year-ago. The clothing retailer posted quarterly net sales of $2.013B, a 1% increase in total merchandise and a 2% comparable-store sales increase. On an annual basis, comparable-store sales improved 1% while total sales increased 1% to $6.439B. Quarterly earnings fell from $161.4M and $3.36 per share last year to $119.1M and $2.71 per share. Excluding one-time charges, quarterly earnings would have been $137.6M and $2.87 per share. For the full fiscal year, Dillard's earnings fell from $336.0M to $323.7M while earnings per share improved from $6.87 to $7.10. CEO William Dillard commented that the quarter was profitable but the company was disappointed in its gross margin, an effect from lower sales that resulted in more markdowns.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: DDS
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