Dillards Inc. (NYSE:DDS) reported net income above Wall Street’s expectations for the third quarter. Net income for Dillards Inc. rose to $26.6 million (50 cents per share) vs. $14.4 million (22 cents per share) in the same quarter a year earlier. This marks a rise of 85% from the year earlier quarter. Revenue Rose 3% to $1.38 billion from the year earlier quarter. DDS beat the mean analyst estimate of 38 cents per share.
Dillard’s Chief Executive Officer, William T. Dillard, II, stated, “Our 5% comparable store sales performance provided strong income momentum as we maintained gross margin and leveraged our operating expenses – resulting in an 85% increase in net income for the quarter. This record-setting third quarter performance further solidifies our confidence in our strategy as we enter the holiday season.”
Competitors to Watch: The Bon-Ton Stores, Inc. (NASDAQ:BONT), Saks Incorporated (NYSE:SKS), Macy’s, Inc. (NYSE:M), J.C. Penney Company, Inc. (NYSE:JCP), Kohl’s Corporation (NYSE:KSS), Sears Holdings Corporation (NASDAQ:SHLD), Nordstrom, Inc. (NYSE:JWN), Stage Stores, Inc. (NYSE:SSI), The TJX Companies, Inc. (NYSE:TJX), and Grazziotin SA (CGRA4).
D. R. Horton Inc. (NYSE:DHI) reported its results for the fourth quarter. Reported a profit of $35.7 million (11 cents per diluted share) in the quarter. D. R. Horton Inc. had a net loss of $8.9 million or a loss 3 cents per share in the year earlier quarter. Revenue rose 8% to $1.07 billion from the year earlier quarter. DHI fell short of the mean analyst estimate of 15 cents per share. Analysts were expecting revenue of $1.08 billion.
Donald R. Horton, Chairman of the Board, said, “Our strategy to open new communities for first-time and move-up buyers, improve gross margins, adjust our overhead and reduce interest expense led to our second consecutive year of profitability, despite continued challenging market conditions. In fiscal 2011, we reduced our homebuilding SG&A expense by $43 million and our homebuilding interest expensed directly and amortized to cost of sales by $67 million.”
Competitors to Watch: PulteGroup, Inc. (NYSE:PHM), KB Home (NYSE:KBH), Lennar Corporation (NYSE:LEN), Toll Brothers, Inc. (NYSE:TOL), The Ryland Group, Inc. (NYSE:RYL), NVR, Inc. (NYSE:NVR), M.D.C. Holdings, Inc. (NYSE:MDC), Standard Pacific Corp. (NYSE:SPF), Orleans Homebuilders (OHBIQ), and Meritage Homes Corporation (NYSE:MTH).