Dillard's profit surges 85%

Little Rock, Ark. -- Dillard’s Inc. reported Friday that profit for the quarter ended Oct. 29 soared a record 85% to $26.6 million, compared with $14.4 million in the year-ago period. Strong comps and contained expenses propelled the strong performance.

Revenue rose to $1.38 billion, from $1.34 billion, beating Wall Street’s expected $1.36 billion in sales. Same-store sales increased 5%.

“This record-setting third quarter performance further solidifies our confidence in our strategy as we enter the holiday season,” said Dillard’s CEO William T. Dillard, II.

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