Dillard's 2003 Annual Report Download - page 2

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Financial Highlights
(in thousands of dollars, except per share amounts) 2003 2002 2001 2000* 1999
Income Statement Data:
Net sales $ 7,598,934 $ 7,910,996 $ 8,154,911 $ 8,566,560 $ 8,676,711
Income before cumulative effect
of accounting change 9,344 131,926 71,798 124,141 163,729
Cumulative effect of accounting
change, net of taxes —(530,331)(1) — (129,991)(2) —
Net income (loss) 9,344 (398,405) 71,798 (5,850) 163,729
Diluted earnings per common share:
Income before cumulative effect
of accounting change 0.11 1.55 0.85 1.36 1.55
Cumulative effect of
accounting change —(6.22) — (1.42) —
Net income (loss) 0.11 (4.67) .85 (.06) 1.55
Balance Sheet Data:
Current assets $ 3,023,691 3,130,251 2,814,510 2,842,948 3,423,725
Current liabilities $ 1,336,087 886,441 928,071 876,697 810,594
Long-term debt 1,855,065 2,193,006 2,124,577 2,374,124 2,894,616
Guaranteed Preferred Beneficial
Interests in the Company’s
Subordinated Debentures 200,000 531,579 531,579 531,579 531,579
Stockholders’ equity 2,237,097 2,264,196 2,668,397 2,629,820 2,832,834
Operational Data:
Number of employees - average 53,598 55,208 57,257 58,796 61,824
Gross square footage (in thousands) 56,000 56,700 56,800 56,500 57,000
Number of stores 328 333 338 337 342
*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 $7.8 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 exclusive brand names. The Company comprises 328
stores, spanning 29 states, all operating with one name – Dillard’s.