Dillard’s Losses Widen as Sales Decline
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Department store chain Dillard’s Inc. posted a wider-than-expected third-quarter loss as declining consumer confidence after the Sept. 11 attacks stunted sales.
The Little Rock, Ark.-based retailer, an operator of more than 340 stores in 29 states, recorded a net loss in the quarter of $40 million, or 48 cents a share. That compared with a net loss of $4 million, or 4 cents a share, a year ago.
Analysts polled by research firm Thomson Financial/First Call had expected a loss of 42 cents, with their estimates ranging from 25 cents to 52 cents.
Dillard’s shares fell 50 cents, or 3.2%, to $15.05 on the NYSE.
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