Loading...
•
Oct 31, 2020
Dillard's Q3 2020 Earnings Report
Dillard's reported third quarter results with improved gross margin and expense control amidst the COVID-19 pandemic.
Key Takeaways
Dillard's reported a significant increase in net income for the third quarter compared to the prior year, driven by improved gross margin and reduced expenses. However, comparable store sales decreased, reflecting the ongoing impact of the COVID-19 pandemic.
Net income increased to $31.9 million, or $1.43 per share, compared to $5.5 million, or $0.22 per share, in the prior year.
Comparable store sales decreased approximately 24%.
Gross margin improved by 249 basis points.
Selling, general and administrative expenses decreased by $99.9 million.
Dillard's
Dillard's
Forward Guidance
Dillard's did not provide specific forward guidance in this earnings report. The company acknowledged the unpredictable conditions due to the pandemic but expressed confidence in its associates' dedication.
Positive Outlook
- Not applicable, no forward guidance provided.
Challenges Ahead
- Not applicable, no forward guidance provided.