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Tuesday, November 17, 2009
Dillard's Reports Profits for 3Q
FOXBusiness
Clothing and home goods retailer Dillard's (DDS) reported third quarter profits on Tuesday thanks to lowered expenses and a tax benefit.
Compared to a year earlier when the company lose $56 million or 76 cents per share, Dillard’s reported $8 million, or 11 cents per share, owing in part to a 14 cent per-share boost.
Revenue dropped to $1.36 billion from $1.51 billion, yet expenses including advertising were slashed by $88.6 million, owing in part to store closings.
"We continued to benefit from our improvements in inventory management, where we have focused on more conservative purchasing combined with efforts to better match the timing of receipts with demand," said Dillard’s CEO William Dillard in a company statement.
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