Retail gross margin also showed an improvement, reaching 42.9 per cent of sales, up from 29.4 per cent the year before. Comparing it to FY19, retail gross margin improved 1,033 basis points of sales to 42.9 per cent of sales from 32.6 per cent of sales.

Dillard's reported a net income of $862.5 million, or $41.88 per share, for FY22, a vast improvement from the net loss of $71.7 million, or $3.16 per share, reported for the previous year.

In the fourth quarter (Q4) of FY22, Dillard's reported net sales of $2.113 billion, compared to $1.570 billion in Q4 FY21. Net income Q4 FY22 was $321.2 million, or $16.61 per share, compared to net income of $67.0 million, or $3.05 per share, for the prior year fourth quarter.

In Q4 FY22, the company reported a 37 per cent increase in total retail sales and a 37 per cent increase in comparable store sales compared to the same period in the previous year. Sales in juniors' and children's apparel also outperformed other categories, showing an increase of 12 per cent in comparable retail sales compared to the fourth quarter of FY19.

Fibre2Fashion News Desk (DP)