Dillard's 2014 Annual Report Download - page 67

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F-26
16. Quarterly Results of Operations (unaudited)
Fiscal 2014, Three Months Ended
(in thousands of dollars, except per share data) May 3 August 2 November 1 January 31
Net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,551,314 $ 1,474,484 $ 1,459,781 $ 2,135,475
Gross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 612,090 498,215 535,338 702,806
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 111,683 34,449 55,231 130,490
Diluted earnings per share:
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2.56 $ 0.80 $ 1.30 $ 3.17
Fiscal 2013, Three Months Ended
(in thousands of dollars, except per share data) May 4 August 3 November 2 February 1
Net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,549,136 $ 1,479,852 $ 1,468,612 $ 2,034,047
Gross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 611,351 503,030 531,205 662,346
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 117,210 36,491 50,868 119,102
Diluted earnings per share:
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2.50 $ 0.79 $ 1.13 $ 2.71
Total of quarterly earnings per common share may not equal the annual amount because net income per common share is
calculated independently for each quarter.
Quarterly information for fiscal 2014 and fiscal 2013 includes the following items:
First Quarter
2013
• an $11.7 million pretax gain ($7.6 million after tax or $0.16 per share) related to the sale of an investment.
• a $6.5 million pretax charge ($4.2 million after tax or $0.09 per share) for asset impairment and store closing
charges related to the write-down of an operating property and certain cost method investments.
• a $1.5 million pretax gain ($1.0 million after tax or $0.02 per share) related to a pension adjustment.
Third Quarter
2014
• a $5.9 million pretax gain ($3.8 million after tax or $0.09 per share) related to the sale of a retail store location.
Fourth Quarter
2013
• a $1.2 million pretax gain ($0.8 million after tax or $0.02 per share) for the reversal of asset impairment and
store closing charges previously recorded in fiscal 2013 for the write-down of an operating property.