Why Dillard's Is Soaring Today

Dillard's Inc DDS is soaring Friday after the company reported a significant year-over-year earnings and revenue increase.

What Happened: Dillard's reported earnings of $7.25 per share and revenue of $1.33 billion, which was better than the earnings loss of $6.94 per share and the $786.7 million in revenue the company reported in the first quarter of 2020.

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"As vaccinations increased, stimulus money was released and warmer weather arrived, we saw sales increase over 2019 levels, with momentum continuing throughout the quarter. We are pleased to report record performances in gross margin and earnings per share," said William Dillard II, CEO of Dillard's. 

Telsey Advisory Group analyst Dana Telsey maintained Dillard's at Market Perform and raised the price target from $80 to $110.

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Price Action: Dillard's traded as high as $129.50 and as low as $21.50 over a 52-week period.

The stock made new all-time highs today. At last check Friday, it was up 23.80% at $126.44.

Photo by Aaron Burr from Flickr.