Dillard's(DDS) - 2025 Q4 - Annual Results

Financial Performance - Dillard's reported net income of $214.4 million, or $13.48 per share, for the fourth quarter, down from $250.5 million, or $15.44 per share, in the prior year[2] - For the fiscal year, net income was $593.5 million, or $36.82 per share, down from $738.8 million, or $44.73 per share, in the previous year[13] - Net income for the 52 weeks ended February 1, 2025, was $593.5 million, a decrease of 19.7% compared to $738.8 million for the 53 weeks ended February 3, 2024[25] Sales Performance - Total retail sales decreased by 1% to $1.943 billion for the 13 weeks ended February 1, 2025, compared to $2.057 billion for the same period last year[7] - Comparable store sales also decreased by 1% for the same period[7] - Total retail sales for the fiscal year decreased by 2% to $6.219 billion compared to $6.480 billion in the prior year[16] Margins and Expenses - Retail gross margin was 36.1% of sales, down from 37.7% in the prior year[9] - Retail gross margin for the fiscal year was 41.0% of sales, down from 41.8% in the previous year[17] - Operating expenses for the fourth quarter were $452.0 million, representing 22.4% of sales, compared to $476.7 million, or 22.4% of sales, in the prior year[11] Assets and Liabilities - Total current assets increased to $2,368.1 million as of February 1, 2025, up from $2,208.2 million a year earlier, primarily driven by an increase in short-term investments[24] - Merchandise inventories rose to $1,172.0 million, reflecting a 7.1% increase from $1,094.0 million in the previous year[24] - Cash and cash equivalents decreased to $717.9 million from $808.3 million, marking a decline of 11.5%[25] - Total liabilities increased to $1,734.9 million as of February 1, 2025, compared to $1,706.5 million a year earlier[24] - Stockholders' equity rose to $1,796.2 million, up from $1,697.1 million, reflecting a growth of 5.8%[24] Cash Flow and Capital Expenditures - Net cash provided by operating activities was $714.1 million, down from $883.6 million, indicating a decrease of 19.1%[25] - Capital expenditures for 2025 are estimated at $120 million, an increase from $105 million in 2024[26] - The company anticipates depreciation and amortization of $180 million for 2025, slightly up from $178 million in 2024[26] Share Repurchase and Stock Information - The company purchased $14.0 million of Class A Common Stock during the fourth quarter, with approximately $273.0 million remaining under the share repurchase program[19] Operational Overview - Dillard's operates 272 stores across 30 states, totaling 46.3 million square feet[22] Forward-Looking Statements - The company cautions that forward-looking statements are subject to various risks and uncertainties, including economic conditions and consumer spending patterns[27]