Why Dillard's (DDS) Shares Are Surging Today - Dillard's (NYSE:DDS)

Dillard’s Inc DDS reported second-quarter FY22 sales growth of 1.2% year-on-year, to $1.59 billion, versus $1.57 billion last year.
Total retail sales increased 1% for Q2. Sales in comparable stores were flat.
Ladies’ apparel was the weakest performing category, with men’s apparel, accessories and cosmetics constituting stronger performing categories.
The gross margin for the quarter contracted 20 basis points to 40.8%.
The operating expenses for the quarter rose 10% Y/Y to $401.3 million.
The company held $492.9 million in cash and equivalents as of July 30, 2022.
EPS for the quarter was $9.30 versus $8.81 last year.
Outlook: Dillard’s sees FY22 rentals of $23 million. Depreciation and amortization of $190 million.
It expects FY22 capital expenditures of $130 million.
Price Action: DDS shares are trading higher by 18.93% at $295.48 on the last check Thursday.

Dillard's Shares Spike On Strong Q2 Earnings