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Dillard's Inc.

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Dillard’s outperformed the industry in the past three months due to a robust surprise trend. The company delivered top line beat for six consecutive quarters backed by solid comps growth and strong performance across most categories. Though it has missed earnings estimates in third-quarter fiscal 2018, it delivered a positive surprise in five of the last seven quarters. Its efforts to capitalize on growth opportunities in physical stores and e-commerce also bode well. Further, the company’s focus on boosting productivity, enhancing domestic operations and developing omni-channel should strengthen customer base. However, increased markdowns significantly weighed on margins and hurt bottom-line performance in the fiscal third quarter. Consolidated gross margin reflected greater decline than gross margin for retail operations as volume for the lower-margin CDI business improved. Stiff competition in the industry also remains a concern.


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