Dillard's Shares Pop On Solid Q1 Performance

• Dillard’s Inc (NYSE:DDS) reported first-quarter FY22 sales growth of 21% year-on-year to $1.64 billion. 
• Comparable retail sales increased 23% versus Q1 2021. Retail sales increased 22% Y/Y.
• EPS was $13.68 versus $7.25 in Q1 2021.
• Operating expenses rose 19.1% Y/Y to $400.8 million.
• Retail gross margin for the quarter expanded 470 basis points Y/Y to 47.3%. The consolidated gross margin improved to 46.5% from 41.7% last year.
• The company held $862.2 million in cash and equivalents as of April 30, 2022. The cash flow provided by operations for the quarter totaled $365.2 million.
• Inventory increased 4% as of April 30, 2022, compared to May 1, 2021.
• The company had a repurchase authorization of $425.5 million remaining under the February 2022 program.
• Price Action: DDS shares traded higher by 10.4% at $312.67 on the last check Thursday.