Dillard's 2010 Annual Report Download - page 17

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ITEM 6. SELECTED FINANCIAL DATA.
The selected financial data set forth below should be read in conjunction with our ‘‘Management’s
Discussion and Analysis of Financial Condition and Results of Operations’’, our consolidated audited
financial statements and notes thereto and the other information contained elsewhere in this report.
(Dollars in thousands of dollars, except per share data)
2010 2009 2008 2007 2006*
Net sales .................. $ 6,120,961 $ 6,094,948 $ 6,830,543 $ 7,207,417 $ 7,636,056
Percent change ........... 0% ǁ11% ǁ5% ǁ6% 1%
Cost of sales ............... 3,976,063 4,102,892 4,827,769 4,786,655 5,032,351
Percent of sales ........... 65.0% 67.3% 70.7% 66.4% 65.9%
Interest and debt expense, net . . 73,792 74,003 88,821 91,556 87,642
Income (loss) before income
taxes and equity in (losses)
earnings of joint ventures .... 268,716 84,525 (380,005) 60,518 253,842
Income taxes (benefit) ........ 84,450 12,690 (140,520) 13,010 20,580
Equity in (losses) earnings of
joint ventures ............. (4,646) (3,304) (1,580) 6,253 12,384
Net income (loss) ........... 179,620 68,531 (241,065) 53,761 245,646
Net income (loss) per diluted
common share ............ 2.67 0.93 (3.25) 0.68 3.05
Dividends per common share . . . 0.16 0.16 0.16 0.16 0.16
Book value per common share . . 34.79 31.21 30.65 33.45 32.19
Average number of diluted
shares outstanding ......... 67,174,163 73,783,960 74,278,461 79,103,423 80,475,210
Accounts receivable(1) ........ 25,950 63,222 87,998 10,880 10,508
Merchandise inventories ...... 1,290,147 1,300,680 1,374,394 1,779,279 1,772,150
Property and equipment, net . . . 2,595,514 2,780,837 2,973,151 3,190,444 3,146,626
Total assets ................ 4,374,166 4,606,327 4,745,844 5,338,129 5,396,735
Long-term debt ............. 697,246 747,587 757,689 760,165 956,611
Capital lease obligations ...... 11,383 22,422 24,116 25,739 28,328
Other liabilities ............. 205,916 213,471 220,911 217,403 206,122
Deferred income taxes ........ 341,689 349,722 378,348 436,541 448,770
Subordinated debentures ...... 200,000 200,000 200,000 200,000 200,000
Total stockholders’ equity ...... 2,086,720 2,304,103 2,251,115 2,514,111 2,579,789
Number of stores
Opened ................. 2 0 10 9 8
Closed(2) ............... 3 6 21 11 10
Total—end of year . . . . . . . . . 308 309 315 326 328
* 53 weeks
(1) As discussed in Note 2 of the Notes to Consolidated Financial Statements, the Company
purchased the remaining interest in CDI, a former 50% equity method joint venture investment of
the Company, on August 29, 2008.
(2) One store in Biloxi, Mississippi, not in operation during fiscal 2007 and fiscal 2006 due to the
hurricanes of 2005 and included in the 2006 closed store totals, was re-opened in early fiscal 2008.
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