The company reported net income of $321.2 million compared to $67 million in 2021 and $67.7 million in 2020.
Dillard’s fourth quarter was again a record. The company reported net income of $321.2 million, compared to $67 million in 2021 and $67.7 million in 2020. 2020 figure represent the end of fiscal 2019, which was the last year without the pandemic.
In the quarter comparable sales increased 37% compared to the previous year. In 2020 comparable sales increase 12%. Net income was $16.61 a share compared to $3.05 per share for the prior year fourth quarter. For the full year the Dillard’s reported a sales increase of 53%. Comparable sales increased 8%. Net income was $862.5 million or $41.88 per share. That compared to a net loss of $3.16 a share due to the pandemic.
Included in the fourth quarter report’s fourth quarter were pre-tax asset impairment and store closing charges of $10.7 million . Also included is a net income for the prior year is the tax expense of $19.4 million attributable to the Coronavirus Aid partially offsetting the net tax benefits recognized during the first three quarters of 2020.
Dillard’s can be proud about the look of their stores. They look fresh, fully in-stock with the latest spring fashions throughout all departments. The change from fall to Spring was evident in several Southern stores. As a result, inventory decreased only 1%. In the previous year inventory decreased 26%.
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