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Dillard's Stock Jumps 20% on Huge Earnings Beat

TheMotleyFool

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Dillard's Stock Jumps 20% on Huge Earnings Beat

The first quarter of fiscal 2020 was predictably awful for Dillard's (NYSE: DDS). The COVID-19 pandemic crushed retail traffic and eventually forced its stores to close temporarily. Most investors didn't expect the Southern department store chain to fare much better in the second quarter, which ended on Aug. 1.

As expected, sales plummeted again last quarter, and Dillard's reported another net loss. However, the company's loss actually narrowed compared to the weak results it reported a year ago. That was good enough news to send Dillard's stock soaring 20% in after-hours trading on Thursday afternoon -- while still leaving the shares more than 50% below their January highs.