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Jul 31, 2021
Dillard's Q2 2021 Earnings Report
Reported record performance driven by strong consumer demand and inventory and expense control.
Key Takeaways
Dillard's reported a strong second quarter with a significant increase in net income, driven by strong consumer demand and effective inventory and expense management. The company ended the quarter with a substantial cash balance after repurchasing a significant amount of stock.
Total retail sales increased by 72% compared to the prior year second quarter.
Net income reached $185.7 million, a significant improvement from the prior year's net loss of $8.6 million.
Retail gross margin improved to 41.7% compared to 31.1% in the prior year second quarter.
Inventory decreased by approximately 13%.
Dillard's
Dillard's
Forward Guidance
Dillard's provided estimates for certain financial statement items for the fiscal year ending January 29, 2022, based upon current conditions.