Dillard’s posts profit on lower costs, leaner inventory

Little Rock, Ark. Dillard's reported a fiscal fourth-quarter profit Monday on lower costs and leaner inventory. The department store chain earned $79.5 million for the period ended Jan. 30, compared with a loss of $149.3 million a year ago.

Sales dropped 10% to $1.83 billion from $2.04 billion.

Dillard's trimmed its advertising, selling, administrative and general expenses to $431 million from $481.8 million during the quarter.

For the year, Dillard's posted a profit of $68.5 million. It reported a loss of $241.1 million in the prior year.

Annual sales fell 11% to $6.09 billion from $6.83 billion.

Dillard's lowered its inventory by 5% year over year.

The company had 297 of its namesake stores and 12 clearance centers at the end of the quarter.