Dillard’s reports Q3 EPS $9.49, consensus $6.70

Reports Q3 revenue $1.48B, consensus $1.51B. Comparable store sales decreased 6%. Dillard’s CEO William Dillard, II stated, “The sales environment remained challenging in the third quarter with particular weakness beginning in September. Our focus on producing profitable sales with inventory control paid off – with retail gross margin of 45.3% and inventory down 1% year over year. We repurchased $48 million of stock and had $893 million of cash and short-term investments remaining.”