Apparel and home goods retailer Dillard's, Inc. ( DDS ) late Thursday posted better-than-expected second quarter earnings, aided by one-time gains resulting from the sale of its stake in a mall venture.
The Little Rock, Arkansas-based company reported second quarter net income of $17.6 million, or 32 cents per share, compared with just $6.8 million, or 10 cents per share, in the year-ago period. Excluding the one-time benefit, adjusted profit was 30 cents per share.
On average, Wall Street analysts expected a smaller profit of 25 cents per share.
Despite the seemingly positive earnings results, Dillard's shares fell $2.80, or -5.5%, in premarket trading Friday.
The Bottom Line
Shares of Dillard's Inc. ( DDS ) have a .39% dividend yield, based on last night's closing stock price of $50.75. The stock has technical support in the $43-$45 price area. If the shares can firm up, we see overhead resistance around the $54-$55 price levels.
Dillard's, Inc. ( DDS ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.
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