Dillard's Reports Robust Dec Comps

Leading fashion apparel, cosmetics and home furnishings retailer Dillard’s Inc. (DDS - Analyst Report) reported a sales increase of 3% and comparable store sales increase of 4% for a 36-day period, which ended on January 1, 2012. Total sales for the period rose to $1.11 billion versus $1.08 billion recorded in the same period last year.

Geographically, sales for the 36-day period gained due to better-than-expected sales trends in the Central region, offset by slightly weak trend in the Eastern and Western regions. Product-wise, sales trends for shoes and cosmetics lived up to the company’s expectations in the 36-day period. However, sales for home and furniture categories significantly missed expectations.

For the 48 weeks ended January 1, 2012, the company’s sales numbers totaled $5.84 billion, again registering an increase of 3% from total sales of $5.65 billion in the same period last year. Comparable store sales increased 4% for the 48 weeks ended January 1, 2012.

Based in Little Rock, Arkansas, Dillard's Inc. is a large departmental store chain, featuring fashion apparel and home furnishings in the United States. Dillard's, which competes with Macy’s Inc. (M - Analyst Report) and J. C. Penny (JCP - Analyst Report), operates 288 department stores and 16 clearance centers in 29 states. It also has an e-commerce website at www.dillards.com.

Dillard's shares maintain a Zacks #3 Rank, which translates into a short-term ‘Hold’ rating. Our long-term recommendation on the stock remains ‘Outperform’.

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