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Dillard’s feels department store pain
Little Rock, Ark. -- Dillard’s Inc. profit declined 13.3% in the second quarter, but it still came in better than analysts had expected.
Growth in shoes and some apparel categories helped Dillard’s post a feeble second quarter same-store sale increase, but it was too little for the department store retailer to avoid the sharp decline in profitability. The retailer’s profit for the quarter ending Aug. 1 was $29.9 million, down from $34.5 million in the year-ago period.
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Some good news for retailers in July
New York -- A report suggests that U.S. consumers aren’t letting the summer doldrums or world unrest get in the way of shopping — although not all retailers are benefiting.
Retail sales rose 0.6% in July month, according to the U.S. Commerce Department. Excluding sales of automobiles, sales were up 0.4%. Eleven of 13 major categories showed increases.
The Commerce Department also revised June's 0.3% decline in retail sales to an unchanged reading.
