Dillard's 2008 Annual Report Download - page 28

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RESULTS OF OPERATIONS
The following table sets forth the results of operations and percentage of net sales, for the periods indicated:
For the years ended
January 31, 2009 February 2, 2008 February 3, 2007
Amount
%of
Net Sales Amount
%of
Net Sales Amount
%of
Net Sales
(in thousands of dollars)
Net sales .......................... $6,830,543 100.0% $7,207,417 100.0% $7,636,056 100.0%
Service charges and other income ...... 157,897 2.3 163,389 2.3 174,011 2.3
6,988,440 102.3 7,370,806 102.3 7,810,067 102.3
Cost of sales ....................... 4,827,769 70.7 4,786,655 66.4 5,032,351 65.9
Advertising, selling, administrative and
general expenses ................. 1,932,732 28.3 2,065,288 28.7 2,096,018 27.5
Depreciation and amortization ......... 284,287 4.2 298,927 4.2 301,147 3.9
Rentals ........................... 61,481 0.9 59,987 0.8 55,480 0.7
Interest and debt expense, net ......... 88,821 1.3 91,556 1.3 87,642 1.2
Gain on disposal of assets ............ (24,567) (0.4) (12,625) (0.2) (16,413) (0.2)
Asset impairment and store closing
charges ......................... 197,922 2.9 20,500 0.3 — —
(Loss) income before income taxes and
equity in earnings of joint ventures . . . (380,005) (5.6) 60,518 0.8 253,842 3.3
Income taxes (benefit) ............... (140,520) (2.1) 13,010 0.2 20,580 0.3
Equity in earnings of joint ventures ..... (1,580) 0.0 6,253 0.1 12,384 0.2
Net (loss) income ................... $ (241,065) (3.5)% $ 53,761 0.7% $ 245,646 3.2%
Sales
Fiscal
2008
Fiscal
2007
Fiscal
2006
(in thousands of dollars)
Net sales:
Retail operations segment .............. $6,742,600 $7,207,417 $7,636,056
Construction segment ................. 87,943 — —
Total net sales ........................... 6,830,543 7,207,417 7,636,056
The percent change by category in the Company’s retail operations segment sales for the past two years is as
follows:
Percent Change
Fiscal
2008-2007
Fiscal
2007-2006
Fiscal
2007-2006*
Cosmetics .................................... (6.1)% (5.0)% (3.7)%
Ladies’ apparel and accessories ................... (5.7) (3.8) (2.2)
Juniors’ and children’s apparel ................... (11.6) (10.6) (9.2)
Men’s apparel and accessories .................... (5.7) (7.8) (5.6)
Shoes ....................................... (3.0) (1.7) (0.2)
Home and furniture ............................ (12.0) (10.3) (8.9)
* Percent change based on 52 weeks ended February 2, 2008 and 52 weeks ended January 27, 2007.
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