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