Dillard’s shares (NYSE:DDS) surged more than 6% to a 36-month high Thursday after the company reported stronger-than-expected November sales, helped by climbing demand in its Central and Eastern regions for teen and children’s apparel.
The leading provider of fashion apparel and home furnishings posted sales for the four-week period ended Nov. 27 of $469.26 million, up 7% from $437.87 million in the same period last year.
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The Little Rock, Ark-based company said its comparable store sales grew 8%, much higher than average analyst estimates polled by Thomson Reuters of 3%.
During the month, the company saw slightly higher than expected trends in its Central and Eastern regions, partially offset by lower-than-expected sales in its Western markets.
Top sellers were shoes and juniors’ and children’s apparel, partially offset by lower trends in the home and furniture category. Cosmetics fell sharply below expectations.