Dillard's, Inc. Reports Fourth Quarter and Fiscal Year Results

Core Viewpoint - Dillard's, Inc. reported a decline in sales and net income for the fourth quarter and fiscal year 2024, with efforts to control expenses amid a challenging retail environment [2][3][13]. Fourth Quarter Results - Net income for the 13 weeks ended February 1, 2025, was $214.4 million, or$13.48 per share, down from $250.5 million, or$15.44 per share, for the 14 weeks ended February 3, 2024 [3][8]. - Net sales for the 13 weeks ended February 1, 2025, were $2.017 billion, compared to$2.124 billion for the 14 weeks ended February 3, 2024, reflecting a decrease of 5% [4][8]. - Total retail sales, excluding the construction business, decreased by 1% to $1.943 billion for the 13-week period [5][8]. - Retail gross margin was 36.1$593.5 million, or $36.82 per share, compared to$738.8 million, or $44.73 per share, for the 53 weeks ended February 3, 2024 [13][15]. - Net sales for the fiscal year were$6.483 billion, down from $6.752 billion, representing a decrease of 4$6.219 billion, with comparable store sales down 3% [15][17]. - Retail gross margin for the fiscal year was 41.0% of sales, compared to 41.8% in the previous year [16][17]. Operating Expenses - Operating expenses for the 13 weeks ended February 1, 2025, were $452.0 million, or 22.4$476.7 million, or 22.4% of sales, for the 14 weeks ended February 3, 2024 [11][8]. - For the fiscal year, operating expenses increased to $1,731.2 million, or 26.7$1,717.4 million, or 25.4% of sales, in the previous year [17][19]. Inventory and Share Repurchase - Ending inventory increased by 7% as of February 1, 2025, compared to February 3, 2024 [10][8]. - During the 13 weeks ended February 1, 2025, the company repurchased $14.0 million worth of Class A Common Stock [20].