Dillard's 2009 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) 2009 2008 2007 2006* 2005
Net sales ................. $ 6,094,948 $ 6,830,543 $ 7,207,417 $ 7,636,056 $ 7,551,697
Percent change ........... (11)% (5)% (6)% 1% 0%
Cost of sales .............. 4,102,892 4,827,769 4,786,655 5,032,351 5,014,021
Percent of sales ........... 67.3% 70.7% 66.4% 65.9% 66.4%
Interest and debt expense, net . . 74,003 88,821 91,556 87,642 105,570
Income (loss) before income
taxes and equity in (losses)
earnings of joint ventures .... 84,525 (380,005) 60,518 253,842 125,791
Income taxes (benefit) ....... 12,690 (140,520) 13,010 20,580 14,300
Equity in (losses) earnings of
joint ventures ............ (3,304) (1,580) 6,253 12,384 9,994
Net income (loss) ........... 68,531 (241,065) 53,761 245,646 121,485
Net income (loss) per diluted
common share ........... 0.93 (3.25) 0.68 3.05 1.49
Dividends per common share . . . 0.16 0.16 0.16 0.16 0.16
Book value per common share . . 31.21 30.65 33.45 32.19 29.43
Average number of diluted
shares outstanding ......... 73,783,960 74,278,461 79,103,423 80,475,210 81,660,619
Accounts receivable, net(1) .... 63,222 87,998 10,880 10,508 12,523
Merchandise inventories ...... 1,300,680 1,374,394 1,779,279 1,772,150 1,802,695
Property and equipment, net . . . 2,780,837 2,973,151 3,190,444 3,146,626 3,147,623
Total assets ............... 4,606,327 4,745,844 5,338,129 5,396,735 5,505,639
Long-term debt ............ 747,587 757,689 760,165 956,611 1,058,946
Capital lease obligations ...... 22,422 24,116 25,739 28,328 31,806
Other liabilities ............ 213,471 220,911 217,403 206,122 259,111
Deferred income taxes ....... 349,722 378,348 436,541 448,770 475,007
Subordinated debentures ...... 200,000 200,000 200,000 200,000 200,000
Total stockholders’ equity ..... 2,304,103 2,251,115 2,514,111 2,579,789 2,333,377
Number of stores
Opened ................ 0 10 9 8 9
Closed(2) ............... 6 21 11 10 8
Total—end of year ......... 309 315 326 328 330
* 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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