Dillard's Loses Big

Dillard's Inc. (Little Rock, Ark.) experienced yet another profit drop in its second fiscal quarter, falling 62 percent and well short of analysts'estimates for the fifth quarter in a row. For the period ending July 29, the company reported net income of $13.8 million, compared to $36.2 million the same time last year.

William Dillard II, ceo, claimed he was “appalled” at the results, citing late deliveries as a reason for poor improvement in inventory management. However, no specific plans for future improvements accompanied the announcement.