Why Dillard's Rallied Today
Shares of department store company Dillard's (NYSE: DDS) rallied on Thursday, up 5.4% as of 2 p.m. ET.
Dillard's reported second-quarter earnings that, while certainly not eye-opening from a growth perspective, nevertheless beat analyst expectations by a fair amount. Given low expectations, perhaps due to tariff-related fears, Dillard's surged and now trades at all-time highs.
In the second quarter, Dillard's saw revenue rise 1.4% on a 1% rise in same-store sales relative to the year-ago quarter. While margins came down slightly and net income declined by 2.3%, earnings per share of $4.66 was actually up 1.5%, thanks to the company's consistent share repurchases over the past year, which retired 3.7% of shares outstanding relative to last year. The EPS figure also handily beat analyst expectations by over 10%.
Source Fool.com
