Dillard’s reports Q2 EPS $7.98, consensus $4.66

Reports Q2 revenue $1.57B, consensus $1.55B. Comparable store sales decreased 3%. Dillard’s CEO William Dillard, II stated, “The cautious consumer we noted in the first quarter continued in the first few weeks of the second, leading to a sales decline of 3%. We exited the quarter with inventory flat year over year while maintaining a strong retail gross margin of 40.4%. We repurchased $103 million of stock and ended the quarter with $924 million in cash and short-term investments.”