Dillard’s, Inc. Reports Second Quarter and Year-to-Date Results

Core Viewpoint - Dillard's, Inc. reported a modest increase in sales for the second quarter of 2025, with net income slightly down compared to the previous year, indicating a mixed performance in a challenging retail environment [1][2]. Second Quarter Results - Net income for the 13 weeks ended August 2, 2025, was $72.8 million, or $4.66 per share, compared to $74.5 million, or $4.59 per share, for the same period in 2024 [2][18]. - Net sales for the quarter were $1.514 billion, up from $1.490 billion in the prior year [3][18]. - Total retail sales, excluding the construction business, increased by 1% to $1.447 billion compared to $1.426 billion in the previous year [4][18]. - Comparable store sales also increased by 1% during the same period [4][18]. Gross Margin - Consolidated gross margin for the second quarter was 36.6% of sales, down from 37.6% in the prior year [5][18]. - Retail gross margin was 38.1% of sales, compared to 39.1% in the previous year, with variations across product categories [6][18]. Inventory and Expenses - Inventory increased by 2% as of August 2, 2025, compared to the previous year [7][18]. - Selling, general, and administrative expenses for the quarter were $434.2 million, representing 28.7% of sales, slightly down from 29.1% in the prior year [8][18]. 26-Week Results - For the 26 weeks ended August 2, 2025, net income was $236.7 million, or $15.08 per share, down from $254.5 million, or $15.68 per share, in the same period in 2024 [11][18]. - Net sales for the 26 weeks were $3.043 billion, slightly up from $3.039 billion in the previous year [12][18]. - Total retail sales for the 26 weeks were flat at $2.915 billion compared to $2.919 billion in the prior year [12][18]. - Retail gross margin for the 26 weeks was 41.8% of sales, down from 42.7% in the previous year [13][18]. Share Repurchase - During the second quarter, the company repurchased $9.8 million worth of Class A Common Stock, and $107.8 million during the 26 weeks, with remaining authorization of $165.2 million under the May 2023 program [15][18]. Other Information - Dillard's operates 272 stores across 30 states, including 28 clearance centers, and has an online presence at dillards.com [17][18].