Dillard's (DDS) Stock Plunges on Earnings Miss
NEW YORK (TheStreet) -- Dillard's (DDS) - Get Report stock is down by 11.14% to $68.95 in pre-market trading on Monday, following the company's 2015 third quarter financial results, which were released before the market open today.
The retailer posted earnings of $1.19 per share for the most recent quarter, down from earnings of $1.30 per share for the year ago period.
Revenue declined year over year, to $1.43 billion from $1.46 billion for the 2014 third quarter.
Dillard's had been forecast to report earnings of $1.20 per share on revenue of $1.49 billion by analysts surveyed by Thomson Reuters.
Comparable store sales fell by 4% during the quarter.
"We are disappointed with our third quarter sales performance and in the resulting decline in profit," CEO William Dillard II said in a statement. "Share buyback remained a high priority, and we repurchased $175 million of stock under our share repurchase program."
Separately, TheStreet Ratings team rates DILLARDS INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
We rate DILLARDS INC (DDS) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, poor profit margins and weak operating cash flow.
You can view the full analysis from the report here: DDS
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