Dillard's Soaring As Same Store Sales Beat, REIT Conversion Near

Dillard's, Inc. DDS shares are soaring this morning, gaining more than 8% this morning after the company reported better than expected same-store-sales this morning. The company reported that June same-store-sales rose 6%, versus expectations of 3.3% from Wall Street analysts. Net sales rose 4.9% to $531.5 million, up from $506.4 million a year ago. The company is also in the process of transforming into a real estate investment trust. At last check, shares were trading at $58.84, up $4.40, a gain of 8.08%.