Dillard's, Inc. Reports Third Quarter And Year-To-Date Results
| 13 Weeks Ended | 39 Weeks Ended | ||||||||||||||||||||||||||||
| October 31, 2026 | November 1, 2025 | October 31, 2026 | November 1, 2025 | ||||||||||||||||||||||||||
| % of | % of | % of | % of | ||||||||||||||||||||||||||
| Net | Net | Net | Net | ||||||||||||||||||||||||||
| Amount | Sales | Amount | Sales | Amount | Sales | Amount | Sales | ||||||||||||||||||||||
| Net sales | $ | 1,480.4 | 100.0% | $ | 1,468.8 | 100.0% | $ | 4,556.4 | 100.0% | $ | 4,511.5 | 100.0% | |||||||||||||||||
| Service charges and other income | 22.9 | 1.5 | 22.2 | 1.5 | 66.0 | 1.4 | 62.5 | 1.4 | |||||||||||||||||||||
| 1,503.3 | 101.5 | 1,491.0 | 101.5 | 4,622.4 | 101.4 | 4,574.0 | 101.4 | ||||||||||||||||||||||
| Cost of sales | 835.0 | 56.4 | 831.6 | 56.6 | 2,614.7 | 57.4 | 2,648.6 | 58.7 | |||||||||||||||||||||
| Selling, general and administrative expenses | 448.9 | 30.3 | 440.4 | 30.0 | 1,336.5 | 29.3 | 1,296.3 | 28.7 | |||||||||||||||||||||
| Depreciation and amortization | 44.0 | 3.0 | 44.5 | 3.0 | 131.7 | 2.9 | 133.5 | 3.0 | |||||||||||||||||||||
| Rentals | 3.7 | 0.3 | 4.4 | 0.3 | 11.5 | 0.3 | 13.5 | 0.3 | |||||||||||||||||||||
| Interest and debt (income) expense, net | (4.2) | (0.3) | (3.1) | (0.2) | (7.7) | (0.2) | (5.3) | (0.1) | |||||||||||||||||||||
| Other expense | 5.0 | 0.3 | 5.0 | 0.3 | 15.0 | 0.3 | 15.8 | 0.3 | |||||||||||||||||||||
| Gain on litigation settlement | - | - | - | - | 104.1 | 2.3 | - | - | |||||||||||||||||||||
| Gain on disposal of assets | - | - | 0.6 | 0.0 | 0.3 | 0.0 | 5.5 | 0.1 | |||||||||||||||||||||
| Income before income taxes and equity in earnings of joint ventures | 170.9 | 11.5 | 168.8 | 11.5 | 625.1 | 13.7 | 477.1 | 10.6 | |||||||||||||||||||||
| Income taxes | 40.3 | 39.0 | 146.8 | 110.6 | |||||||||||||||||||||||||
| Equity in earnings of joint ventures | 0.3 | 0.0 | - | - | 0.8 | 0.0 | - | - | |||||||||||||||||||||
| Net income | $ | 130.9 | 8.8% | $ | 129.8 | 8.8% | $ | 479.1 | 10.5% | $ | 366.5 | 8.1% | |||||||||||||||||
| Basic and diluted earnings per share | $ | 8.38 | $ | 8.31 | $ | 30.68 | $ | 23.39 | |||||||||||||||||||||
| Basic and diluted weighted average shares outstanding | 15.6 | 15.6 | 15.6 | 15.7 |
Dillard's, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets (Unaudited)
(In Millions)
| October 31, | November 1, | |||||
| 2026 | 2025 | |||||
| Assets | ||||||
| Current assets: | ||||||
| Cash and cash equivalents | $ | 896.8 | $ | 1,149.2 | ||
| Accounts receivable | 46.6 | 44.9 | ||||
| Short-term investments | 488.7 | 185.2 | ||||
| Merchandise inventories | 1,781.4 | 1,718.1 | ||||
| Other current assets | 63.7 | 71.6 | ||||
| Total current assets | 3,277.2 | 3,169.0 | ||||
| Property and equipment, net | 850.1 | 943.7 | ||||
| Operating lease assets | 33.9 | 27.3 | ||||
| Deferred income taxes | 80.5 | 65.6 | ||||
| Other assets | 93.3 | 92.5 | ||||
| Total assets | $ | 4,335.0 | $ | 4,298.1 | ||
| Liabilities and stockholders' equity | ||||||
| Current liabilities: | ||||||
| Trade accounts payable and accrued expenses | $ | 1,228.2 | $ | 1,214.0 | ||
| Current portion of long-term debt | 80.0 | 96.0 | ||||
| Current portion of operating lease liabilities | 9.4 | 10.0 | ||||
| Federal and state income taxes | 20.0 | 125.4 | ||||
| Total current liabilities | 1,337.6 | 1,445.4 | ||||
| Long-term debt | 145.8 | 225.7 | ||||
| Operating lease liabilities | 24.2 | 16.9 | ||||
| Other liabilities | 379.8 | 365.0 | ||||
| Subordinated debentures | 200.0 | 200.0 | ||||
| Stockholders' equity | 2,247.6 | 2,045.1 | ||||
| Total liabilities and stockholders' equity | $ | 4,335.0 | $ | 4,298.1 |
Dillard's, Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In Millions)
| 39 Weeks Ended | ||||||||
| October 31, | November 1, | |||||||
| 2026 | 2025 | |||||||
| Operating activities: | ||||||||
| Net income | $ | 479.1 | $ | 366.5 | ||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
| Depreciation and amortization of property and other deferred costs | 132.8 | 134.6 | ||||||
| Gain on disposal of assets | (0.3) | (5.5) | ||||||
| Accrued interest on short-term investments | (10.1) | (7.0) | ||||||
| Changes in operating assets and liabilities: | ||||||||
| (Increase) decrease in accounts receivable | (6.9) | 10.8 | ||||||
| Increase in merchandise inventories | (580.3) | (546.0) | ||||||
| Decrease in other current assets | 7.5 | 22.5 | ||||||
| Decrease in other assets | - | 2.0 | ||||||
| Increase in trade accounts payable and accrued expenses and other liabilities | 463.7 | 426.1 | ||||||
| (Decrease) increase in income taxes | (5.7) | 101.8 | ||||||
| Net cash provided by operating activities | 479.8 | 505.8 | ||||||
| Investing activities: | ||||||||
| Purchase of property and equipment and capitalized software | (67.7) | (73.8) | ||||||
| Proceeds from disposal of assets | 0.3 | 7.6 | ||||||
| Proceeds from insurance | - | 1.5 | ||||||
| Investments related to joint ventures | - | (34.3) | ||||||
| Purchase of short-term investments | (741.6) | (396.3) | ||||||
| Proceeds from maturities of short-term investments | 474.5 | 543.7 | ||||||
| Net cash (used in) provided by investing activities | (334.5) | 48.4 | ||||||
| Financing activities: | ||||||||
| Principal payments on long-term debt | (96.0) | - | ||||||
| Cash dividends paid | (14.0) | (11.8) | ||||||
| Purchase of treasury stock | - | (107.8) | ||||||
| Issuance cost of line of credit | - | (3.3) | ||||||
| Net cash used in financing activities | (110.0) | (122.9) | ||||||
| Increase in cash and cash equivalents | 35.3 | 431.3 | ||||||
| Cash and cash equivalents, beginning of period | 861.5 | 717.9 | ||||||
| Cash and cash equivalents, end of period | $ | 896.8 | $ | 1,149.2 | ||||
| Non-cash transactions: | ||||||||
| Accrued capital expenditures | $ | 10.7 | $ | 9.8 | ||||
| Accrued purchase of treasury stock and excise taxes | - | 1.1 | ||||||
| Stock awards | 1.4 | 1.3 | ||||||
| Lease assets obtained in exchange for new operating lease liabilities | 5.3 | 2.5 |
Estimates for 2026
The Company is providing the following estimates for certain financial statement items for the 52-week period ending January 30, 2027 based upon current conditions. Actual results may differ significantly from these estimates as conditions and factors change - See“Forward-Looking Information.”
| In Millions | ||||||||
| 2026 | 2025 | |||||||
| Estimated | Actual | |||||||
| Depreciation and amortization | $ | 175 | $ | 179 | ||||
| Rentals | 17 | 19 | ||||||
| Interest and debt (income) expense, net | (12) | (6) | ||||||
| Capital expenditures | 100 | 93 |
Forward-Looking Information
This report contains certain forward-looking statements. The following are or may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995: (a) statements including words such as“may,”“will,”“could,”“should,”“believe,”“expect,”“future,”“potential,”“anticipate,”“intend,”“plan,”“estimate,”“continue,” or the negative or other variations thereof; (b) statements regarding matters that are not historical facts; and (c) statements about the Company's future occurrences, plans and objectives, including those statements under the heading“Estimates for 2026” regarding certain financial statement items for the 52-week period ended January 30, 2027. The Company cautions that forward-looking statements contained in this report are based on estimates, projections, beliefs and assumptions of management and information available to management at the time of such statements and are not guarantees of future performance. The Company disclaims any obligation to update or revise any forward-looking statements based on the occurrence of future events, the receipt of new information or otherwise. Forward-looking statements of the Company involve risks and uncertainties and are subject to change based on various important factors. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements made by the Company and its management as a result of a number of risks, uncertainties and assumptions. Representative examples of those factors include (without limitation) general retail industry conditions and macro-economic conditions including inflation, economic recession and changes in traffic at malls and shopping centers; economic and weather conditions for regions in which the Company's stores are located and the effect of these factors on the buying patterns of the Company's customers, including the effect of changes in prices and availability of oil and natural gas; the availability of and interest rates on consumer credit; the impact of competitive pressures in the department store industry and other retail channels including specialty, off-price, discount and Internet retailers; changes in the Company's ability to meet labor needs amid nationwide labor shortages and an intense competition for talent; changes in consumer spending patterns, debt levels and their ability to meet credit obligations; high levels of unemployment; changes in tax legislation; trade disputes and changes in trade policies including the imposition (or threat) of new or increased duties, taxes, tariffs and other charges impacting our products or supply chain; changes in legislation and governmental regulations; adequate and stable availability and pricing of materials, production facilities and labor from which the Company sources its merchandise; changes in operating expenses, including employee wages, commission structures and related benefits; system failures or data security breaches; inability to effectively utilize advancements in technology, including artificial intelligence; possible future acquisitions of store properties from other department store operators; the continued availability of financing in amounts and at the terms necessary to support the Company's future business; fluctuations in SOFR and other base borrowing rates; potential disruption from terrorist activity and the effect on ongoing consumer confidence; epidemic, pandemic or public health issues and their effects on public health, our supply chain, the health and well-being of our employees and customers and the retail industry in general; potential disruption of international trade and supply chain efficiencies; global conflicts (including the ongoing conflicts in the Middle East and Ukraine) and the possible impact on consumer spending patterns and other economic and demographic changes of similar or dissimilar nature, and other risks and uncertainties, including those detailed from time to time in our periodic reports filed with the Securities and Exchange Commission, particularly those set forth under the caption“Item 1A, Risk Factors” in the Company's Annual Report on Form 10-K for the fiscal year ended January 31, 2026.
| CONTACT: | |
| Dillard's, Inc. | |
| Julie J. Guymon | |
| 501-376-5965 | |
| ... |
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