Dillard’s Inc. (NYSE: DDS) reported fourth-quarter earnings that surpassed analyst expectations, though revenue fell short of forecasts, prompting shares to decline more than 7% in pre-market trading Tuesday.
The department store operator posted adjusted earnings per share of $13.05 for the quarter ended January 31, exceeding the consensus estimate of $10.61 by $2.44. Revenue totaled $1.96 billion, below the $2.04 billion estimate.
Total retail sales decreased 1% year over year to $1.92 billion, with comparable store sales also down 1%. The company noted that over one-third of its store base experienced disruptions due to a winter storm during the third weekend of January.
For the full fiscal year, Dillard’s reported net income of $570.2 million, or $36.42 per share, compared with $593.5 million, or $36.82 per share, in the previous year.
Total retail sales remained flat at $6.23 billion year over year. Retail gross margin was 40.8%, slightly below 41.0% in the prior year, while operating expenses increased to 27.2% of sales from 26.7%.
