Dillard’s revenue comparison falls in July, missing analyst expectations for growth

Dillard’s key metric falls in July, misses Street

LITTLE ROCK, Ark. — Dillard’s Inc. said Thursday that revenue in department stores open at least one year fell 3 percent in July, coming in well short of analysts’ forecasted increase.

Analysts surveyed by Thomson Reuters, on average, had expected revenue in stores open at least one year to rise 1.5 percent. Revenue at stores open at least a year is a key indicator of a retailer’s performance because it excludes results at stores that open or close during the year.

Total sales for the four weeks ended July 31 also fell 3 percent to $425.2 million from $439.1 million. The company said sales came in above average in the East but worse than average in the West. Shoe sales were significantly above trend, while furniture and home sales were below.

For the 13-week period ended July 31, revenue at stores open at least a year was flat, while total sales slipped 1 percent to $1.36 billion. Year to date, revenue in stores open at least one year is up 1 percent while total sales are flat at $2.8 billion.

The Little Rock, Ark., company operates about 300 department stores in 29 states.