Dillard's Pops On Q3 Earnings Beat

Dillard’s Inc DDS reported third-quarter FY22 sales growth of 4.1% year-on-year to $1.57 billion, beating the consensus of $1.48 million.
Total retail sales increased by 3% for Q3. Sales in comparable stores increased by 3%.
Stronger performing categories included cosmetics, men's apparel and accessories, home and furniture and shoes. Juniors' and children's apparel was the weakest performing category.
The gross margin for the quarter contracted 160 basis points to 44.6%.
The operating expenses for the quarter rose 5.2% Y/Y to $413.8 million.
The company held $532.7 million in cash and equivalents as of October 29, 2022.
EPS for the quarter was $10.96, above the $5.85 estimate.
During Q3, the company purchased $24.3 million of its stock at $245.60 per share under its share repurchase program.
Price Action: DDS shares are trading higher by 5.41% at $330.32 on the last check Thursday.
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