Dillard's(US:DDS)2025-11-13 21:13Financial Performance - Dillard's reported net income of $129.8 million, or $8.31 per share, for the third quarter, compared to $124.6 million, or $7.73 per share, in the prior year[2] - Net sales for the third quarter were $1.469 billion, an increase of 3% from $1.427 billion in the same period last year[3] - Total retail sales, excluding CDI, increased 3% to $1.401 billion for the third quarter compared to $1.356 billion in the prior year[4] - For the 39 weeks ended November 1, 2025, net income was $366.5 million, or $23.39 per share, compared to $379.1 million, or $23.42 per share, in the prior year[12] - Total retail sales for the 39 weeks increased 1% to $4.315 billion from $4.275 billion in the prior year[13] - Net income for the 39 weeks ended November 1, 2025, was $366.5 million, a decrease of 3.4% compared to $379.1 million for the same period in 2024[21] Operating Expenses and Margins - Retail gross margin improved to 45.3% of sales from 44.5% in the prior year third quarter[9] - Operating expenses for the third quarter were $440.4 million, representing 30.0% of sales, up from $418.9 million, or 29.4% of sales, in the prior year[11] Cash Flow and Assets - Net cash provided by operating activities increased to $505.8 million, up 44.7% from $349.4 million in the prior year[21] - Cash and cash equivalents at the end of the period rose to $1,149.2 million, compared to $980.4 million at the end of the previous year[21] - Total assets increased to $4.298 billion as of November 1, 2025, from $4.133 billion a year earlier[20] Shareholder Actions - The company purchased $107.8 million of Class A Common Stock during the 39 weeks, with approximately $165.2 million remaining under the share repurchase program[17] - Cash dividends paid decreased slightly to $11.8 million from $12.2 million in the prior year[21] Future Projections and Risks - Estimated depreciation and amortization for 2025 is projected at $180 million, slightly higher than the actual $178 million in 2024[22] - Capital expenditures for 2025 are estimated to be $100 million, down from $105 million in 2024[22] - The company anticipates a net interest and debt expense of $(7) million for 2025, an improvement from $(14) million in 2024[22] - The company is facing various risks including inflation, economic recession, and changes in consumer spending patterns that may impact future performance[23] - Forward-looking statements indicate potential disruptions from global conflicts and public health issues affecting consumer confidence and spending[24] Inventory Changes - The company has reported an increase in merchandise inventories by $546.0 million, compared to a decrease of $588.2 million in the previous year[21] Store Closures - Dillard's announced the closure of its store at The Shops at Willow Bend in Plano, Texas, expected in January 2026[18]