Dillard’s 1Q Earnings Drop 29%

Little Rock, AR, May 24–Dillard’s reported first-quarter earnings that dropped 29 percent, hurt by weak demand for women’s clothing and furniture.

The company’s earning fell to $38.0 million, or $0.46 per share.

Analysts had forecast earnings of $0.54 per share for the period.

Sales at the department store operator were off 3 percent to $1.8 billion. Same store sales were off 3 percent.

During the quarter the company opened four stores and closed four. The retailer said it would continue to focus on closing under-performing stores.