by Max Brantley
Corporate results come and go, but I thought the report from Dillard's this morning on December sales was of a piece with state tax reporting yesterday that, stripped of estimated income tax payments, showed modest gains, but not stunning jumps, in such areas as taxes on retail sales.
Dillard's reports sales up 4 percent at comparable stores for both the Christmas shopping period and the 48-week period ending Jan. 1. That mirrors the 4 percent rise the state as a whole saw, according to what a state economist told me yesterday.
Dillard's, Inc. Reports December Sales Results
Little Rock, Arkansas, January 5, 2012 — Dillard's, Inc. (DDS: NYSE) ("Dillard's" or the "Company") announced today that merchandise sales ("sales") for the 36 days ended January 1, 2012 were $1,108,722,000 compared to sales for the 36 days ended January 2, 2011 of $1,078,940,000. Total sales increased 3%. Comparable store sales increased 4% for the 36 days ended January 1, 2012. The Company is reporting fiscal December sales inclusive of 36 days ending on January 1, 2012 to include January 1 in both periods for comparability purposes.
Sales for the 48 weeks ended January 1, 2012 were $5,835,490,000 compared to sales for the 48 weeks ended January 2, 2011 of $5,653,902,000. Total sales increased 3%. Comparable store sales increased 4% for the 48 weeks ended January 1, 2012. The 48-week period includes the 36-day December fiscal month.
During the 36 days ended January 1, 2012, sales were slightly above the average total Company trend in the Central region and below trend in the Eastern and Western regions. Sales in shoes and cosmetics were significantly above trend during the 36 days ended January 1, 2012. Sales in the home and furniture category were significantly below trend.
Dillard's, Inc. is one of the nation's largest fashion apparel and home furnishing retailers. The Company's stores operate with one name, Dillard's, and span 29 states. Dillard's stores offer a broad selection of merchandise, including products sourced and marketed under Dillard's exclusive brand names.