Dillard's Q1 Profit Slips, Yet Beats Estimates; Comps Down 2%

(RTTNews) - Dillard's, Inc. (DDS) Thursday announced a decline in first-quarter earnings from the prior year. Comparable store sales were down 2 percent and the retail sales declined 1 percent from the prior year.

For the 13-week first quarter, the earnings were $180 million or $11.09 per share, lower than the prior year earnings of $201.5 million or $11.85 per share.

On average, 3 analysts polled by Thomson Reuters expected the company to earn $9.63 per share. Analysts' estimates usually exclude special items.

Net sales for the quarter were $1.549 billion, compared to $1.584 billion a year ago. Wall Street expected $1.55 billion.

The company said, there was a continued challenging sales environment in the first quarter. Cosmetics performed stronger, while men's apparel and accessories were the weakest performing category. Ending inventory decreased 2 percent year over year