Dillard’s saw sales within its retail operation increase 37 percent during its fourth quarter to $2.08 billion on net income of $321.2 million.
The sales of cosmetics and juniors’ and children’s apparel “significantly outperformed” the retailer’s other categories.
Dillard’s Chief Executive Officer William T. Dillard, II stated, “We ended fiscal 2021 on a very strong note with a fourth consecutive record quarter.”
Dillard’s reported net income for the 13 weeks ended January 29, 2022 of $321.2 million, or $16.61 per share, compared to net income of $67.0 million, or $3.05 per share, for the prior-year fourth quarter.
Included in net income for the 13 weeks ended January 29, 2022 is a net tax benefit of $18.0 million ($0.93 per share) due to the deduction related to that portion of the special dividend of $15 per share that was paid to the Dillard’s, Inc. Investment and Employee Stock Ownership Plan during the quarter.
Dillard’s will open a new 160,000 square foot location at University Place in Orem, UT in mid-March 2022, replacing Provo Towne Centre in the same market (200,000 square feet).
The company will replace a leased building at Westgate Mall in Amarillo, Texas with a newly remodeled owned facility in the fall of 2022.
The company operates 250 Dillard’s locations and 30 clearance centers spanning 29 states and an Internet store at dillards.com. The total square footage at January 29, 2022 was 47.7 million square feet.
