Dillard's 2002 Annual Report Download - page 2

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FINANCIAL HIGHLIGHTS
(in thousands of dollars, except per share amounts) 2002 2001 2000* 1999 1998
Income Statement Data:
Net sales $ 7,910,996 $ 8,154,911 $ 8,566,560 $ 8,676,711 $ 7,762,778
Income before extraordinary item
and accounting change 136,300 65,786 96,830 163,729 135,259
Extraordinary gain (loss), net of taxes (4,374) 6,012 27,311 — —
Cumulative effect of accounting
change, net of taxes (530,331)(1) — (129,991)(2) ——
Net income (loss) (398,405) 71,798 (5,850) 163,729 135,259
Diluted earnings per common share:
Income before extraordinary item
and accounting change 1.60 .78 1.06 1.55 1.26
Extraordinary gain (loss) (.05) .07 .30 — —
Cumulative effect of
accounting change (6.22) —(1.42) — —
Net income (loss) (4.67) .85 (.06) 1.55 1.26
Balance Sheet Data:
Current assets $ 3,130,251 $ 2,814,510 $ 2,842,948 $ 3,423,725 $ 3,450,249
Current liabilities 886,461 928,071 876,697 810,594 1,013,480
Long-term debt 2,193,006 2,124,577 2,374,124 2,894,616 3,002,595
Guaranteed Preferred Beneficial
Interests in the Company’s
Subordinated Debentures 531,579 531,579 531,579 531,579 531,579
Stockholders’ equity 2,264,196 2,668,397 2,629,820 2,832,834 2,841,522
Operational Data:
Number of stores 333 338 337 342 335
Number of employees 55,208 57,257 58,796 61,824 54,921
Gross square footage (in thousands) 56,700 56,800 56,500 57,000 55,000
*53 Weeks
(1) During fiscal 2002, the Company adopted Statement of Financial Accounting Standards No. 142, “Goodwill and Other Intangible Assets”.
See Management’s Discussion and Analysis of Financial Condition and Results of Operations.
(2) During fiscal 2000, the Company changed its method of accounting for inventories under the retail method.
See Management’s Discussion and Analysis of Financial Condition and Results of Operations.
CORPORATE PROFILE
Dillard’s, Inc. ranks among the nations largest fashion apparel and home furnishings retailers with
annual revenues exceeding $8.2 billion. The Company focuses on delivering maximum value to its
shoppers, with fairly priced merchandise complemented by exceptional customer service. Dillard’s stores
offer a broad selection of merchandise, including products sourced and marketed under Dillard’s
private-brand names.
The Company comprises 333 stores, spanning 29 states, all operating with one name – Dillard’s.