Dillard's reports Q2 EPS (58c), may not compare to consensus 19c
Reports Q2 revenue $1.43B, consensus $1.44B. Total merchandise sales for the 13-week period ended July 29, 2017 were $1.385 billion and $1.403 billion for the 13-week period ended July 30, 2016. Total merchandise sales decreased 1% for the 13-week period ended July 29, 2017. Sales in comparable stores for the period decreased 1%. Sales increased slightly in ladies' apparel. Sales were consistent with the company trend in juniors' and children's apparel, ladies' accessories and lingerie and men's apparel and accessories. Sales in shoes were slightly below trend. Below trend performances were noted in cosmetics and home and furniture. Sales were slightly above trend in the Eastern region, consistent with trend in the Western region and below trend in the Central region. Dillard's CEO William T. Dillard, commented on the quarter, "Significant markdowns led to a disappointing loss as we dealt with inventory, which was up 2% at quarter end."