Dillard's Shares Rally On Strong Q2 Sales, Margin Growth

Dillard's Inc DDS reported second-quarter FY21 sales growth of 71% year-on-year, to $1.57 billion.
Retail sales increased 72% Y/Y. Sales in ladies' apparel and shoes drove the revenue increase.
Consolidated gross margin for the quarter expanded 1060 basis points Y/Y to 41%. The retail gross margin improved to 41.7%.
The company held $669.5 million in cash and equivalents as of July 31, 2021.
EPS was $8.81, with a net profit of $185.7 million.
"The strong consumer demand we saw in the first quarter continued throughout the second quarter," said CEO William T. Dillard.
Inventory decreased approximately 13% as of July 31, 2021, compared to August 1, 2020.
Price Action: DDS shares traded higher by 5.51% at $192.185 on the last check Thursday.

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