Holiday sales drive Dillard's in Q4

Dillard’s CEO credited an improved assortment and top-notch service with the company’s best sales performance of 2014 in the fourth quarter.

The company reported fourth-quarter net income of $130.5 million, up 9.5% from $119.1 million. Same-store sales rose 3% to $2.136 billion.Dillard's took in $2.18 billion in revenue during the fourth quarter, up from $2.08 billion during the same period last year.

"We finished 2014 with our best sales performance of the year in the most important quarter,” said CEO William T. Dillard. “Our 3% sales increase was supported by a strong 103 basis point retail gross margin improvement, as customers responded well to our improved mix and service throughout the holiday season."

For the full year, Dillard's reported net income of $331.9 million, or $7.79 per share, compared to net income of $323.7 million, or $7.10 per share, in the same period last year. In the fourth quarter, Dillard's cited "notably strong" sales trends in ladies' apparel and shoes, followed by juniors' and children's apparel. Sales were weakest in the home and furniture category.

For the year, Dillard's earned $331.9 million in profit, compared with $323.7 million during the 2013 fiscal year. Total revenue for the year was $6.8 billion, up from $6.7 billion the previous year.

Dillard’s, based in Arkansas, operates277 locations and 20 clearance centers in 29 states.