Dillard's (DDS) Reports August Same-Store-Sales Down 7%
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Dillard's, Inc. (NYSE: DDS) announced that sales for the four weeks ended August 30, 2008 were $500,776,000 compared to sales for the four weeks ended September 1, 2007 of $537,038,000. Sales decreased 7% on both a total and comparable store basis.
Management notes that operations in 24 of its Gulf-area stores were disrupted beginning on or around Wednesday, August 27th, as Gulf-area residents anticipated the arrival of Hurricane Gustav. Dillard's closed 13 of these stores more directly in Gustav's path beginning on Saturday, August 30th. Damage to stores as a result of Gustav was minimal and 8 of the 13 stores have now reopened. Management expects disruption of operations to continue in the near-term in its Gulf-area stores as a result of Hurricane Gustav.
Dillard's, Inc. is one of the nation's largest fashion apparel and home furnishing retailers.
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