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Dillard’s makes $8 million profit, thanks to tax break
By The Arkansas Democrat-Gazette
This article was published November 17, 2009 at 11:24 a.m.
LITTLE ROCK — Little Rock-based Dillard’s Inc. on Tuesday reported a third quarter profit of $8 million, recovering from a loss of $56 million a year earlier.
But the department store chain would have lost money if not for a $10.6 million income tax benefit. Revenue was $1.39 billion, down from $1.55 billion a year earlier.
William Dillard II, the chain’s chief executive, said the company is managing its inventory better.
“We have focused on more conservative purchasing combined with efforts to better match the timing of receipts with demand,” Dillard said in a release. “Accordingly, even with the substantial inventory decline at the end of the quarter (22 percent), we believe we are well-positioned to meet anticipated fourth quarter holiday demand.”
Read tomorrow's Arkansas Democrat-Gazette for full details.
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