Dillard’s, Inc. (NYSE:DDS) shares edged lower after the department store chain reported first-quarter results ahead of Wall Street expectations, supported by strength across multiple merchandise categories and improved margins.
The company also highlighted continued customer demand, inventory discipline and a focus on refreshing its merchandise assortment heading into the rest of the year.
Quarterly Details
The company reported first-quarter earnings per share of $16.04, beating the analyst consensus estimate of $10.37. Quarterly sales of $1.568 billion outpaced the Street view of $1.555 billion.
The quarter included a pre-tax gain on litigation settlement of $104.1 million ($5.10 per share after tax) tied to the company’s favorable settlement of a payment card interchange fee lawsuit.
Total retail sales increased …