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Dillard’s Q4 profit up 38% on improved sales
Little Rock, Ark. -- Dillard's said Tuesday that its net income grew 38% in the fourth quarter as its sales improved and the retailer controlled expenses and inventory.
Dillard's earnings rose to $109.6 million in the three months ended Jan. 29, compared with $79.5 million one year earlier.
Sales rose 5% to $1.93 billion from $1.83 billion, with merchandise sales up 6% to $1.91 billion. The rest of its revenue comes from its CDI Contractors construction business. Same-store sales rose 7%.
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Lowe’s Q4 net income up 39%
Mooresville, N.C. -- Lowe’s reported a 39% increase in fiscal fourth-quarter earnings to $285 million, up from $205 million a year earlier.
Sales grew 3% in the latest quarter to $10.5 billion. Same-store sales rose 1.1%.
For fiscal 2010, net income grew to $2 billion, from $1.8 billion in fiscal 2009. Sales grew to $48.8 billion from $47.2 billion.
The company expects to open 25 to 30 stores in 2011.