Dillard's (DDS) Q4 2026 earnings summary

Executive summary

• Fiscal year net income was $570.2 million, or $36.42 per share, down from $593.5 million, or $36.82 per share, year-over-year.

• Retail gross margin for the year was 40.8%, slightly down from 41.0% the prior year.

• Cash and short-term investments at year-end totaled approximately $1.1 billion.

• The largest dividend in company history was paid, with significant cash reserves maintained.

Financial highlights

• Net sales for the year were $6.474 billion, nearly flat compared to $6.483 billion the previous year.

• Comparable store sales and total retail sales were unchanged year-over-year.

• Fourth quarter net income was $203.7 million ($13.05 per share), down from $214.4 million ($13.48 per share) year-over-year.

• Fourth quarter total retail sales decreased 1%, with comparable store sales also down 1%.

• Operating expenses for the year were $1.759 billion (27.2% of sales), up from $1.731 billion (26.7% of sales) year-over-year.

Outlook and guidance

• Estimates for fiscal 2026 include depreciation and amortization of $175 million, rentals of $18 million, net interest income of $5 million, and capital expenditures of $130 million.