Printer Friendly

Dillard's reports 2Q net loss of $26 million.

Dillard's Inc. lost about $26 million during its second quarter, down from a loss of $50.4 million during the same quarter last year but greater than analysts' expectations.

The loss of 31 cents a share was greater than a Reuters Estimates consensus of 18 cents a share, according to Briefing.com. Meanwhile, Thomson First Call analysts had expected a loss of 16 cents a share.

Total revenue was $1.67 billion, down 2.9 percent from $1.72 billion.

The department store chain said it improved gross margin performance by 30 basis points and that inventory declined by 2 percent compared to the same quarter last year. The company also decreased advertising, selling, general and administrative expenses by $7.7 million.

Dillard's also outlined steps it is taking to improve its merchandise mix to set itself apart from competitors. It said it would:

* Introduce new, "younger-focused" and more upscale national brands.

* Increase storewide penetration of private-label brands, emphasizing fashion-forward and upscale exclusive brands.

* Eliminate or de-emphasize brands that are not performing well.

* Fine-tune merchandise mix by store local; " tion to meet local needs.
COPYRIGHT 2004 Journal Publishing, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2004 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Public Company Reports
Comment:Dillard's reports 2Q net loss of $26 million.(Public Company Reports)
Publication:Arkansas Business
Article Type:Brief Article
Geographic Code:1USA
Date:Aug 23, 2004
Words:184
Previous Article:SEC recommends civil action against Tyson.
Next Article:Champion parts income fall 47.5% in 2Q.
Topics:


Related Articles
Dillard's Reports 3rd Quarter Loss. (Inside Business).
Dillard's sees 1q profit as sales sag. (Public Company Reports).
Dillard's same-store sales down 5 percent.
Dillard's cuts 2Q loss by more than half.
Dillard's decline?
Dillard's reports smaller 3Q loss.
Dillard's reports 2nd-quarter profit.
Dillard's 3rd-quarter profit goes against predictions.
Dillard's posts 2Q loss of $25m; faces new attack.
Dillard's posts $11.3 million loss in third quarter.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters