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.”



During the quarter, Dillard's opened two new locations: a 200,000-sq.-ft. store at The Shops at Summerlin in Las Vegas, Nevada, and a 180,000-sq.-ft. location at The Mall at University Town Center in Sarasota, Florida.