Dillard's Q2 Results Down; Stock Dips In Premarket

(RTTNews) - Luxury department store chain Dillard's, Inc. (DDS) reported Thursday that its second-quarter net income declined to $131.5 million from last year's $163.4 million.

Earnings per share were $7.98, down from $9.30 a year ago.

On average, three analysts polled by Thomson Reuters expected earnings of $4.66 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales were $1.567 billion, lower than last year's $1.589 billion. The Street was looking for sales of $1.55 billion.

Total retail sales, which excludes CDI, were $1.50 billion, down 3 percent from $1.55 billion a year ago.

Sales in comparable stores decreased 3 percent hurt by continuing consumer caution, particularly in the first few weeks of the second quarter.

In pre-market activity on the NYSE, Dillard's shares were trading at $321, down 4.51 percent.

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