Dillard's 2012 Annual Report Download - page 32

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men’s apparel and accessories increased moderately. Sales of ladies’ apparel were essentially flat, and
sales in the home and furniture category were down moderately.
The number of sales transactions decreased 2% over the prior year while the average dollars per
sales transaction increased significantly.
Net sales from the construction segment decreased $31.2 million or 31% during fiscal 2011 as
compared to fiscal 2010. This decrease was primarily attributable to the negative impact that the weak
United States economy had in previous periods on our construction project backlog.
Exclusive Brand Merchandise
Sales penetration of exclusive brand merchandise for fiscal years 2012, 2011 and 2010 was 21.6%,
21.8% and 22.7% of total net sales, respectively.
Service Charges and Other Income
Dollar Change Percent Change
Fiscal Fiscal Fiscal
(in millions of dollars) 2012 2011 2010 2012 - 2011 2011 - 2010 2012 - 2011 2011 - 2010
Service charges and other income:
Retail operations segment
Income from GE marketing and
servicing alliance ........... $107.1 $ 95.8 $ 84.7 $11.3 $11.1 11.8% 13.1%
Leased department income ..... 10.8 10.1 10.0 0.7 0.1 6.9 1.0
Shipping and handling income . . . 19.1 18.4 17.2 0.7 1.2 3.8 7.0
Hurricane settlement .......... — — 7.5 — (7.5) — (100.0)
Other ..................... 21.3 16.9 16.3 4.4 0.6 26.0 3.7
158.3 141.2 135.7 17.1 5.5 12.1 4.1
Construction segment ........... 0.1 0.7 1.7 (0.6) (1.0) (85.7) (58.8)
Total ......................... $158.4 $141.9 $137.4 $16.5 $ 4.5 11.6% 3.3%
2012 Compared to 2011
Service charges and other income is composed primarily of income from the Alliance with GE.
Income from the Alliance increased $11.3 million in fiscal 2012 compared to fiscal 2011 primarily due
to increases in finance charge and late charge fee income and decreased credit losses.
2011 Compared to 2010
Income from the Alliance increased $11.1 million in fiscal 2011 compared to fiscal 2010 due to
decreased credit losses partially offset by reduced finance charge and late charge fee income.
Also included in service charges and other income during fiscal 2010 were proceeds of $7.5 million
received as final payment related to hurricane losses.
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