Dillard's Delivers Another Ridiculous Earnings Beat
Department stores mounted a remarkable recovery from the COVID-19 pandemic last year. Most companies in the industry saw strong improvement in sales and profitability. Many reported record earnings results.
However, no other department store operator came close to the results Dillard's (NYSE: DDS) posted. On Tuesday, the regional department store chain reported its fourth consecutive record quarterly profit. That brought its full-year adjusted earnings per share (EPS) to $40.05 -- more than five times the previous record of $7.70. Let's see what the company's latest earnings beat means for investors.
Dillard's revenue momentum continued last quarter, as comparable retail sales jumped 12% relative to the fourth quarter of fiscal 2019. Net sales reached $2.11 billion, up from $1.92 billion two years earlier. For the full fiscal year, comp sales grew 8% over 2019.
Source Fool.com
