Dillard's (DDS) reported earnings Thur 12 May 2016 (a/h)

** charts before earnings **

  

** charts after earnings **

 

Dillard's misses by $0.40, misses on revs  :

• Reports Q1 (Apr) earnings of $2.17 per share, $0.40 worse than the Capital IQ Consensus of $2.57; revenues fell 4.5% year/year to $1.5 bln vs the $1.55 bln Capital IQ Consensus. 
• Total merchandise sales decreased 5% for the 13-week period ended April 30, 2016. Sales in comparable stores for the period also decreased 5%.
• Gross margin from retail operations (which excludes CDI) declined 145 basis points of sales for the 13 weeks ended April 30, 2016 compared to the prior year first quarter. The decline in gross margin was attributed primarily to higher markdowns during the period. Consolidated gross margin for the 13 weeks ended April 30, 2016 declined 140 basis points of sales compared to the prior year first quarter. Inventory remained unchanged on a percentage basis at April 30, 2016 compared to May 2, 2015.
• 2016 Guidance: Co continues to see CapEx of $150-166 mln