Dillard's(DDS) - 2026 Q1 - Quarterly Results

Financial Performance - Net income for the first quarter was $163.8 million, or $10.39 per share, down from $180.0 million, or $11.09 per share in the prior year[2] - Total net sales decreased to $1.529 billion from $1.549 billion, while total retail sales (excluding construction business) fell 2% to $1.468 billion[3][4] - Comparable store sales decreased by 1% during the same period[4] - Retail gross margin was 45.5% of sales, down from 46.2% in the previous year[5][6] - Operating expenses were $421.7 million, representing 27.6% of sales, slightly up from 27.5% in the prior year[5][8] - Inventory increased by 6% compared to the previous year[7] Stock and Investments - The company repurchased $98 million in stock, reducing total shares outstanding to 15.6 million[9] - Cash and short-term investments totaled $1.2 billion after stock repurchases[1] Store Operations - The company operates 272 stores across 30 states, totaling 46.3 million square feet[10] Capital Expenditures - Estimated capital expenditures for 2025 are projected at $120 million, up from $105 million in 2024[14] Risk Management and Economic Outlook - The company is monitoring potential impacts on consumer spending patterns and economic changes[16] - Risks and uncertainties are detailed in periodic reports filed with the SEC, particularly in the Annual Report on Form 10-K for the fiscal year ended February 1, 2025[16] - The company emphasizes the importance of understanding demographic changes that may affect its operations[16] - The company is committed to addressing risks outlined under "Item 1A, Risk Factors" in its annual filings[16] - Future strategies will be influenced by ongoing economic and demographic trends[16] - The company is focused on maintaining transparency regarding its financial health and risk management[16] - The company plans to adapt its business strategies in response to identified risks and uncertainties[16] - The company is actively engaged in assessing the potential impact of market changes on its performance[16] - The company will continue to provide updates on its financial outlook and risk factors in future reports[16] - The company is dedicated to ensuring accurate and timely communication with stakeholders regarding its financial status[16]