FINANCE

Dillard’s net income falls in Q4

BY Dan Berthiaume

Little Rock, Ark. – Dillard’s Inc. reported declining net income for the fourth quarter and fiscal year 2014. Compared to the same period a year earlier, Dillard’s reported a 26% decline in net income to $119.1 million from $161.4 million.

Net sales in the fourth quarter declined 3% to $2.03 billion from $2.1 billion, and same-store sales grew 2%. During the fiscal year, net income dropped about 4% to $323.7 million from $336 million, and net sales slightly declined to $6.53 billion from $6.59 billion. Same-store sales rose 1%.

Looking ahead, Dillard’s plans to open two new stores in October 2014: a 200,000-sq.-ft. location in The Shops at Summerlin in Las Vegas and a 180,000-sq.-ft. location in The Mall at University Town Center in Sarasota, Fla.

Dillard’s cited the extra week in the 53-week fiscal 2013 period, as well as one-time tax benefits and after-tax gains, as reasons for the year-over-year drop in net income.

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REAL ESTATE

Dick’s Sporting Goods to open in Panama City, Fla.

BY Dan Berthiaume

Pittsburgh – Dick’s Sporting Goods opens a new store in Panama City Beach, Fla., on March 7. The store will be located at Pier Park North and will be the retailer’s 25th store in the state of Florida and its 559th nationwide.

"We’re excited to be joining Panama City Beach with the opening of our newest location," said Lauren Hobart, senior VP & chief marketing officer, Dick’s Sporting Goods. "We look forward to offering the finest quality products and a team of associates that is dedicated to exceptional customer service."

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REAL ESTATE

Ross Dress for Less expanding in Florida, with four new stores

BY Dan Berthiaume

Dublin, Calif. — Ross Dress for Less will open four new locations in Florida on March 8, adding to its existing store base of more than 130 locations in the Sunshine State. New locations include the Coral Ridge Mall in Fort Lauderdale, Seabridge Square in St. Augustine, Lake Mary Centre in Lake Mary, and Southchase Village in Orlando.

Together, Ross Dress for Less and DD’s Discounts currently operate approximately 1,300 off-price apparel and home fashion stores in 33 states, the District of Columbia and Guam.

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