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Dillard's posts increased profit in 3Q, sales dwindle
Little Rock, Ark. -- Dillard's Inc. reported Thursday a profit of $55.2 million in its fiscal third quarter, up 8.4% over the $50.9 million profit in the same period last year. Sales, however, dipped to $1.460 billion, from $1.469 billion, and same-stores sales declined 1%. Still, said CEO William T. Dillard II, "We believe we are positioned very well for the holiday season.” -
A million reasons to visit Old Navy
Perhaps the most aggressive traffic and sales generating promotional effort this Black Friday comes courtesy of Old Navy.
The Old Navy division of Gap, Inc., plans to open its more than 800 stores at 4 p.m. on Thanksgiving day and will price all merchandise at half off for 31 hours until stores close at 11 p.m. on Black Friday. And, if the 50% markdown isn’t sufficient to motivate shoppers, the retailer plans generate store traffic by giving away $1 million to one lucky customer and 1,000 $200 gift certificates.
