Dillard’s (NYSE: DDS) boosts Q2 earnings and margins on tariff refunds

Rhea-AI Filing Summary

Dillard’s, Inc. reported higher profitability for the 13 and 26 weeks ended August 1, 2026. For the second quarter, net income was $97.7 million, or $6.25 per share, up from $72.8 million, or $4.66 per share, a year earlier. Results include $37.2 million in International Emergency Economic Powers Act (IEEPA) tariff refunds ($28.4 million after tax, or $1.82 per share), which the company does not expect to recur at a significant level.

Second-quarter net sales were $1.508 billion, essentially flat year over year, while total retail sales rose 1% and comparable-store sales also increased 1%. Consolidated gross margin improved to 39.7% of sales, with retail gross margin at 40.9%, supported by the tariff refunds. Operating expenses rose to $443.6 million, mainly from higher payroll.

For the first 26 weeks, Dillard’s generated net income of $348.2 million, or $22.30 per share, versus $236.7 million, or $15.08 per share, in the prior-year period. Net sales for the half-year were $3.076 billion, with total retail sales up 2% and comparable-store sales also up 2%. The company ended the quarter operating 272 stores plus its online channel, and held substantial liquidity with over $1.2 billion in cash and short-term investments, after paying off $96 million of debt.

Positive

• Net income grew sharply, from $72.8 million to $97.7 million in Q2 and from $236.7 million to $348.2 million year-to-date, with earnings per share rising to $6.25 for the quarter and $22.30 for the first 26 weeks.
• Gross margins expanded, with consolidated gross margin rising to 39.7% from 36.6% in Q2 and to 42.1% from 40.3% year-to-date, supported by tariff refunds and underlying improvements.
• The company reported strong liquidity and deleveraging, ending the quarter with over $1.2 billion in cash and short-term investments and making $96 million of principal payments on long-term debt.

Negative

• Earnings relied in part on $37.2 million of IEEPA tariff refunds, adding 260 basis points to Q2 retail gross margin, and the company states it does not expect additional significant refunds, limiting this benefit going forward.

Filing Explained

The filing reports operating cash largely offset by investment and debt outflows, with capital spending still estimated for the fiscal year.

This Form 8-K reports completed operating results for the 13 and 26 weeks ended August 1, 2026, under the results-of-operations category. The filing adds a cash-flow view: operating cash was largely offset by investing and financing uses during the half-year.

For the 52 weeks ending January 30, 2027, management estimates capital expenditures; that estimate is the filing’s stated forward item to monitor.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Q2 2026 net income: $97.7 million Q2 2026 earnings per share: $6.25 Q2 2026 net sales: $1.5076 billion +5 more

8 metrics

Q2 2026 net income $97.7 million Net income for the 13 weeks ended August 1, 2026

Q2 2026 earnings per share $6.25 Basic and diluted EPS for the 13 weeks ended August 1, 2026

Q2 2026 net sales $1.5076 billion Net sales for the 13 weeks ended August 1, 2026

IEEPA tariff refunds $37.2 million Refunds included in Q2 2026 net income, adding 260 bps to retail gross margin

Year-to-date 2026 net income $348.2 million Net income for the 26 weeks ended August 1, 2026

Cash and short-term investments Over $1.2 billion Liquidity at quarter end as cited by the CEO

Principal debt payments YTD 2026 $96.0 million Principal payments on long-term debt in the 26 weeks ended August 1, 2026

Number of stores 272 Dillard’s stores in operation, including 28 clearance centers, across 30 states

Key Terms

retail gross margin, International Emergency Economic Powers Act (IEEPA) tariffs, comparable stores, operating lease liabilities, +1 more

5 terms

retail gross margin financial

"Retail gross margin for the 13 weeks ended August 1, 2026 was 40.9% of sales"

Retail gross margin is the percentage of each sales dollar a retailer keeps after paying for the goods sold, calculated as (sales minus cost of goods) divided by sales. It shows how much room a store has to cover operating costs and produce profit from every sale; think of it like the difference between the price you charge for a sandwich and what you paid for the bread and filling. Investors watch it to judge pricing strength, inventory cost control and basic profitability trends.

International Emergency Economic Powers Act (IEEPA) tariffs regulatory

"includes $37.2 million...in refunds of International Emergency Economic Powers Act (IEEPA) tariffs"

comparable stores financial

"Sales in comparable stores for the same period increased 1%"

operating lease liabilities financial

"Current portion of operating lease liabilities"

Long-term lease payments a company is legally committed to because it rents assets such as offices, factories, or equipment; under modern accounting rules these future rent obligations are recorded on the balance sheet as liabilities. Investors care because operating lease liabilities act like debt that drains future cash, affects measures of leverage and borrowing capacity, and can change profitability and valuation — think of them as a company’s large, ongoing rent payments that limit its financial flexibility.

treasury stock financial

"Accrued purchase of treasury stock and excise taxes"

Treasury stock is shares that a company has bought back from the public and kept in its own control rather than retiring them. Think of it like a company holding its own tickets in a drawer: those shares no longer vote or receive dividends while held, but the company can reissue or retire them later; this reduces the number of shares available to outside investors and can boost per‑share earnings and influence ownership and stock price.

Earnings Snapshot

Net sales Q2 2026: $1.5076 billion · Guidance included

13 and 26 weeks ended August 1, 2026

Net sales Q2 2026 $1.5076 billion Compared to $1.5138 billion in Q2 2025

Net income Q2 2026 $97.7 million Up from $72.8 million in Q2 2025

EPS Q2 2026 $6.25 Up from $4.66 in Q2 2025

Net income 26 weeks 2026 $348.2 million Up from $236.7 million in the 26 weeks ended August 2, 2025

Retail gross margin Q2 2026 40.9% Improved from 38.1% in Q2 2025

Guidance

For fiscal 2026, the company estimates depreciation and amortization of $175 million, rentals of $18 million, net interest and debt income of $(9) million, and capital expenditures of $120 million.

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FAQ

How did Dillard’s (DDS) perform financially in the second quarter of 2026?

Dillard’s reported Q2 2026 net income of $97.7 million, or $6.25 per share, up from $72.8 million, or $4.66 per share, a year earlier. Net sales were $1.508 billion, with total retail sales and comparable-store sales each increasing 1%.

What drove Dillard’s (DDS) earnings increase for the first half of 2026?

For the 26 weeks ended August 1, 2026, Dillard’s generated net income of $348.2 million, or $22.30 per share, versus $236.7 million, or $15.08 per share. Higher gross margins, including benefits from $37.2 million in tariff refunds, contributed to the improvement.

How did Dillard’s (DDS) sales trend in Q2 and year-to-date 2026?

In Q2 2026, Dillard’s posted net sales of $1.508 billion, roughly flat year over year, with total retail sales up 1%. For the first 26 weeks, net sales were $3.076 billion, and total retail sales and comparable-store sales each increased 2%.

What happened to Dillard’s (DDS) gross margins in 2026?

Consolidated gross margin improved to 39.7% in Q2 2026 from 36.6%, and to 42.1% year-to-date from 40.3%. Retail gross margin reached 40.9% in Q2, aided by $37.2 million in IEEPA tariff refunds, which added 260 basis points.

What is Dillard’s (DDS) liquidity and debt position as of August 1, 2026?

Dillard’s ended the quarter with $763.1 million in cash and $497.7 million in short-term investments, totaling over $1.2 billion. The company also made $96 million in principal payments on long-term debt during the first 26 weeks of 2026.

How many stores does Dillard’s (DDS) operate and in how many states?

Dillard’s operates 272 stores, including 28 clearance centers, spanning 30 states, along with its Internet store at dillards.com. Total retail space amounts to 46.1 million square feet, providing a broad physical presence alongside its online channel.

0000028917false00000289172026-05-142026-05-14

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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FORM 8-K

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CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 13, 2026

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Dillard’s, Inc.

(Exact name of registrant as specified in its charter)

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Texas

(State or other jurisdiction of incorporation)

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​	​	​
1-6140	​ ​ ​	71-0388071
(Commission File Number)	​	(IRS Employer Identification No.)
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1600 Cantrell Road Little Rock, Arkansas	​	72201
(Address of principal executive offices)	​	(Zip Code)

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(501) 376-5200

(Registrant’s telephone number, including area code)

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Not Applicable

(Former name or former address, if changed since last report.)

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

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​	​	​
☐	​ ​	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
​	​	​
☐	​	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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☐	​	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐	​	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Securities registered pursuant to Section 12(b) of the Act:

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​	​	​
Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Class A Common Stock	DDS	New York Stock Exchange

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

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Emerging growth company   ☐

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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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Item 2.02Results of Operations and Financial Condition.

On August 13, 2026, the registrant issued a press release announcing results for the 13 and 26 weeks ended August 1, 2026. A copy of the press release is furnished as Exhibit 99.1 to this current report and is incorporated herein by reference.

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Item 9.01Financial Statements and Exhibits.

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Exhibit No.	​ ​ ​	Description
​	​	​
99.1	​	Press Release dated August 13, 2026, announcing results for the 13 and 26 weeks ended August 1, 2026.
​	​	​
104	​	Cover Page Interactive Data File (embedded within the Inline XBRL Document)

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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​	​	​	​	​
​	​	​ ​ ​	​	DILLARD’S, INC.
​	​	​	​	​
Date:	August 13, 2026	​	By:	/s/ Phillip R. Watts
​	​	​	Name:	Phillip R. Watts
​	​	​	Title:	Senior Vice President, Co-Principal Financial Officer and Principal Accounting Officer
​	​	​	​	​
​	​	​	By:	/s/ Chris B. Johnson
​	​	​	Name:	Chris B. Johnson
​	​	​	Title:	Senior Vice President and Co-Principal Financial Officer

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Exhibit 99.1

Dillard’s, Inc. Reports Second Quarter

and Year-to-Date Results

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LITTLE ROCK, Ark. (GLOBE NEWSWIRE) – August 13, 2026 - Dillard’s, Inc. (NYSE: DDS) (the “Company” or “Dillard’s”) announced operating results for the 13 and 26 weeks ended August 1, 2026. This release contains certain forward-looking statements. Please refer to the Company’s cautionary statements included below under “Forward-Looking Information.”

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Dillard’s Chief Executive Officer William T. Dillard, II commented on the quarter, “Our 1% sales increase points to a somewhat resilient consumer. Retail gross margin of 40.9%, boosted by tariff rebates, helped grow cash flow and the bottom line. We ended the quarter with over $1.2 billion in cash and short-term investments after paying off $96 million in debt.”

​

Highlights of the Second Quarter (compared to the prior year second quarter):

​

•Total retail sales increased 1%

• Comparable store sales increased 1%

• Net income of $97.7 million compared to $72.8 million

• Earnings per share of $6.25 compared to $4.66

• Retail gross margin of 40.9% of sales compared to 38.1% of sales

• Operating expenses were $443.6 million (29.4% of sales) compared to $434.2 million (28.7% of sales)

• Ending inventory increased 5%

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Second Quarter Results

​

Dillard’s reported net income for the 13 weeks ended August 1, 2026 of $97.7 million, or $6.25 per share, compared to $72.8 million, or $4.66 per share, for the 13 weeks ended August 2, 2025. Net income for the 13 weeks ended August 1, 2026, includes $37.2 million ($28.4 million after tax, or $1.82 per share) in refunds of International Emergency Economic Powers Act (IEEPA) tariffs.

​

Included in net income for the 13 weeks ended August 2, 2025 is a pretax gain of $4.8 million ($3.7 million after tax or $0.24 per share) primarily related to the sale of three properties.

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Sales – Second Quarter

​

Net sales for the 13 weeks ended August 1, 2026 and August 2, 2025 were $1.508 billion and $1.514 billion, respectively. Net sales includes the operations of the Company’s construction business, CDI Contractors, LLC (“CDI”).

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Total retail sales (which excludes CDI) for the 13 weeks ended August 1, 2026 and August 2, 2025 were $1.455 billion and $1.447 billion, respectively. Total retail sales increased 1% for the 13 weeks

ended August 1, 2026 compared to the 13 weeks ended August 2, 2025. Sales in comparable stores for the same period increased 1%.

​

During the second quarter, sales increased significantly in ladies’ accessories and lingerie and moderately in home and furniture. Slight sales increases were noted in shoes, men’s apparel and accessories and cosmetics. Sales decreased moderately in juniors’ and children’s apparel and ladies’ apparel.

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Gross Margin – Second Quarter

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Consolidated gross margin for the 13 weeks ended August 1, 2026 was 39.7% of sales compared to 36.6% of sales for the 13 weeks ended August 2, 2025.

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Retail gross margin for the 13 weeks ended August 1, 2026 was 40.9% of sales compared to 38.1% of sales for the 13 weeks ended August 2, 2025. Retail gross margin was positively impacted (260 basis points of sales) by the aforementioned $37.2 million IEEPA tariff refunds. The Company does not expect any additional significant IEEPA tariff refunds.

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Compared to the prior year second quarter and adjusted for the aforementioned IEEPA tariff refunds, retail gross margin increased moderately in ladies’ apparel and increased slightly in cosmetics and home and furniture. Retail gross margin was flat in juniors’ and children’s apparel and decreased slightly in men’s apparel and accessories and shoes. Retail gross margin decreased moderately in ladies’ accessories and lingerie.

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Selling, General & Administrative Expenses – Second Quarter

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Consolidated selling, general and administrative expenses (“operating expenses”) for the 13 weeks ended August 1, 2026 were $443.6 million (29.4% of sales) and $434.2 million (28.7% of sales) for the 13 weeks ended August 2, 2025. The increase is primarily due to higher payroll and payroll-related expenses.

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Highlights of the 26 Weeks (compared to the prior year 26 weeks):

​

•Total retail sales increased 2%

• Comparable store sales increased 2%

• Net income of $348.2 million compared to $236.7 million

• Earnings per share of $22.30 compared to $15.08

• Retail gross margin of 43.4% of sales compared to 41.8% of sales

• Operating expenses were $887.6 million (28.9% of sales) compared to $855.9 million (28.1% of sales)

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26-Week Results

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Dillard’s reported net income for the 26 weeks ended August 1, 2026 of $348.2 million, or $22.30 per share, compared to $236.7 million, or $15.08 per share, for the 26 weeks ended August 2, 2025. Included in net income for the 26 weeks ended August 1, 2026 are these items:

● $37.2 million ($28.4 million after tax, or $1.82 per share) in refunds of IEEPA tariffs

● a pre-tax gain on litigation settlement, net of legal fees, of $104.1 million ($79.6 million after tax or $5.10 per share) related to the Company’s favorable settlement of a long-standing lawsuit involving payment card interchange fees

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Included in net income for the 26 weeks ended August 2, 2025 is a pretax gain of $4.9 million ($3.8 million after tax or $0.24 per share) primarily related to the sale of three properties.

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Sales – 26 Weeks

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Net sales for the 26 weeks ended August 1, 2026 and August 2, 2025 were $3.076 billion and $3.043 billion, respectively.

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Total retail sales for the 26 weeks ended August 1, 2026 and August 2, 2025 were $2.973 billion and $2.915 billion, respectively. Total retail sales increased 2% for the 26 weeks ended August 1, 2026 compared to the 26 weeks ended August 2, 2025. Sales in comparable stores for the same period increased 2%.

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Gross Margin – 26 Weeks

​

Consolidated gross margin for the 26 weeks ended August 1, 2026 was 42.1% of sales compared to 40.3% of sales for the 26 weeks ended August 2, 2025.

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Retail gross margin for the 26 weeks ended August 1, 2026 was 43.4% of sales compared to 41.8% of sales for the 26 weeks ended August 2, 2025. Retail gross margin was positively impacted (120 basis points of sales) by the aforementioned $37.2 million IEEPA tariff refunds.

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Selling, General & Administrative Expenses – 26 Weeks

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Operating expenses for the 26 weeks ended August 1, 2026 were $887.6 million (28.9% of sales) and $855.9 million (28.1% of sales) for the 26 weeks ended August 2, 2025. The increase is largely due to higher payroll and payroll-related expenses.

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Store Information

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The Company operates 272 Dillard’s stores, including 28 clearance centers, spanning 30 states (totaling 46.1 million square feet) and an Internet store at dillards.com.

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Dillard’s, Inc. and Subsidiaries

Condensed Consolidated Statements of Income (Unaudited)

(In Millions, Except Per Share Data)

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13 Weeks Ended

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26 Weeks Ended

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August 1, 2026

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August 2, 2025

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August 1, 2026

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August 2, 2025

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% of

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% of

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​ ​ ​

% of

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​ ​ ​

% of

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Net

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Net

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​

Net

​

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​

Net

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​

Amount

​

Sales

​

Amount

​

Sales

​

Amount

​

Sales

​

Amount

​

Sales

Net sales

​

$

1,507.6

100.0

%

$

1,513.8

100.0

%

$

3,076.0

100.0

%

$

3,042.7

100.0

%

Service charges and other income

​

22.8

1.5

​

22.2

1.5

​

43.1

1.4

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40.3

1.3

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​

​

1,530.4

101.5

​

1,536.0

101.5

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3,119.1

101.4

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3,083.0

101.3

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Cost of sales

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909.3

60.3

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959.3

63.4

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1,779.7

57.9

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1,817.0

59.7

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Selling, general and administrative expenses

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443.6

29.4

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434.2

28.7

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887.6

28.9

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855.9

28.1

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Depreciation and amortization

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44.4

2.9

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44.7

3.0

​

87.7

2.9

​

89.1

2.9

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Rentals

​

3.8

0.3

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4.5

0.3

​

7.7

0.3

​

9.2

0.3

​

Interest and debt (income) expense, net

​

(2.7)

(0.2)

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(1.5)

(0.1)

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(3.5)

(0.1)

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(2.3)

(0.1)

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Other expense

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5.0

0.3

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5.0

0.3

​

10.0

0.3

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10.7

0.4

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Gain on litigation settlement

​

​

—

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—

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​

—

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—

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104.1

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3.4

​

​

—

​

—

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Gain on disposal of assets

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0.1

0.0

​

4.8

0.3

​

0.2

0.0

​

4.9

0.2

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Income before income taxes and equity in earnings of joint ventures

​

127.1

8.4

​

94.6

6.2

​

454.2

14.8

​

308.3

10.1

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Income taxes

​

29.7

​

​

21.8

​

​

106.6

​

​

71.6

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Equity in earnings of joint ventures

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​

0.3

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0.0

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—

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—

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0.6

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0.0

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—

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—

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Net income

​

$

97.7

6.5

%

$

72.8

4.8

%

$

348.2

11.3

%

$

236.7

7.8

%

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Basic and diluted earnings per share

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$

6.25

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$

4.66

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$

22.30

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$

15.08

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Basic and diluted weighted average shares outstanding

​

15.6

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15.6

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​

15.6

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15.7

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Dillard’s, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets (Unaudited)

(In Millions)

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​	​	​	​	​	​	​
​	​ ​ ​	August 1,		​ ​ ​	August 2,
​	​	2026		​	2025
Assets		​	​		​	​
Current assets:		​	​		​	​
Cash and cash equivalents	​	$	763.1	​	$	1,012.0
Accounts receivable	​		45.4	​		52.2
Short-term investments	​	​	497.7	​	​	199.8
Merchandise inventories	​		1,283.2	​		1,219.8
Federal and state income taxes	​		11.5	​		—
Other current assets	​		80.4	​		88.3
Total current assets	​		2,681.3	​		2,572.1
​	​	​	​	​	​	​
Property and equipment, net	​		863.7	​		955.1
Operating lease assets	​		31.4	​		29.5
Deferred income taxes	​		79.9	​		67.7
Other assets	​		93.6	​		60.1
​	​	​	​	​	​	​
Total assets	​	$	3,749.9	​	$	3,684.5
​	​	​	​	​	​	​
Liabilities and stockholders’ equity	​		​	​		​
Current liabilities:	​		​	​		​
Trade accounts payable and accrued expenses	​	$	794.7	​	$	761.2
Current portion of long-term debt	​		80.0	​		96.0
Current portion of operating lease liabilities	​		9.1	​		10.5
Federal and state income taxes	​		—	​		91.0
Total current liabilities	​		883.8	​		958.7
​	​	​	​	​	​	​
Long-term debt	​		145.7	​		225.6
Operating lease liabilities	​		22.0	​		19.1
Other liabilities	​		377.7	​		362.0
Subordinated debentures	​		200.0	​		200.0
Stockholders’ equity	​		2,120.7	​		1,919.1
​	​	​	​	​	​	​
Total liabilities and stockholders’ equity	​	$	3,749.9	​	$	3,684.5

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Dillard’s, Inc. and Subsidiaries

Condensed Consolidated Statements of Cash Flows (Unaudited)

(In Millions)

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​	​	​	​	​	​	​
​	​	26 Weeks Ended
​	​ ​ ​	August 1,		​ ​ ​	August 2,
​	​	2026		​	2025
Operating activities:		​	​		​	​
Net income	​	$	348.2	​	$	236.7
Adjustments to reconcile net income to net cash provided by operating activities:	​		​	​		​
Depreciation and amortization of property and other deferred costs	​		88.4	​		89.9
Gain on disposal of assets	​		(0.2)	​		(4.9)
Accrued interest on short-term investments	​	​	(5.6)	​	​	(5.6)
Changes in operating assets and liabilities:	​		​	​		​
(Increase) decrease in accounts receivable	​		(5.7)	​		3.5
Increase in merchandise inventories	​		(82.1)	​		(47.7)
(Increase) decrease in other current assets	​		(10.3)	​		7.3
(Increase) decrease in other assets	​		(0.7)	​		1.1
Increase (decrease) in trade accounts payable and accrued expenses and other liabilities	​		25.4	​		(24.5)
(Decrease) increase in income taxes	​		(30.6)	​		63.6
Net cash provided by operating activities	​		326.8	​		319.4
​	​	​	​	​	​	​
Investing activities:	​		​	​		​
Purchase of property and equipment and capitalized software	​		(39.5)	​		(43.5)
Proceeds from disposal of assets	​		0.3	​		6.0
Proceeds from insurance	​		—	​		1.5
Investment in joint venture	​	​	—	​	​	(1.8)
Purchase of short-term investments	​	​	(641.5)	​	​	(273.5)
Proceeds from maturities of short-term investments	​	​	360.9	​	​	405.0
Net cash (used in) provided by investing activities	​		(319.8)	​		93.7
​	​	​	​	​	​	​
Financing activities:	​		​	​		​
Principal payments on long-term debt	​		(96.0)	​		—
Cash dividends paid	​		(9.4)	​		(7.9)
Purchase of treasury stock	​		—	​		(107.8)
Issuance cost of line of credit	​		—	​		(3.3)
Net cash used in financing activities	​		(105.4)	​		(119.0)
​	​	​	​	​	​	​
(Decrease) increase in cash and cash equivalents	​		(98.4)	​		294.1
Cash and cash equivalents, beginning of period	​		861.5	​		717.9
Cash and cash equivalents, end of period	​	$	763.1	​	$	1,012.0
​	​	​	​	​	​	​
Non-cash transactions:	​		​	​		​
Accrued capital expenditures	​	$	7.7	​	$	5.1
Accrued purchase of treasury stock and excise taxes	​		—	​		1.1
Stock awards	​		1.4	​		1.3
Lease assets obtained in exchange for new operating lease liabilities	​		0.3	​		1.8

​

​

Estimates for 2026

The Company is providing the following estimates for certain financial statement items for the 52-week period ending January 30, 2027 based upon current conditions. Actual results may differ significantly from these estimates as conditions and factors change - See “Forward-Looking Information.”

​

​	​	​	​	​	​	​
​	​	In Millions
​	​ ​ ​	2026		​ ​ ​	2025
​	​	Estimated		​	Actual
Depreciation and amortization	​	$	175	​	$	179
Rentals	​		18	​		19
Interest and debt (income) expense, net	​		(9)	​		(6)
Capital expenditures	​		120	​		93

​

Forward-Looking Information

This report contains certain forward-looking statements. The following are or may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995: (a) statements including words such as “may,” “will,” “could,” “should,” “believe,” “expect,” “future,” “potential,” “anticipate,” “intend,” “plan,” “estimate,” “continue,” or the negative or other variations thereof; (b) statements regarding matters that are not historical facts; and (c) statements about the Company’s future occurrences, plans and objectives, including those statements under the heading “Estimates for 2026” regarding certain financial statement items for the 52-week period ended January 30, 2027. The Company cautions that forward-looking statements contained in this report are based on estimates, projections, beliefs and assumptions of management and information available to management at the time of such statements and are not guarantees of future performance. The Company disclaims any obligation to update or revise any forward-looking statements based on the occurrence of future events, the receipt of new information or otherwise. Forward-looking statements of the Company involve risks and uncertainties and are subject to change based on various important factors. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements made by the Company and its management as a result of a number of risks, uncertainties and assumptions. Representative examples of those factors include (without limitation) general retail industry conditions and macro-economic conditions including inflation, economic recession and changes in traffic at malls and shopping centers; economic and weather conditions for regions in which the Company’s stores are located and the effect of these factors on the buying patterns of the Company’s customers, including the effect of changes in prices and availability of oil and natural gas; the availability of and interest rates on consumer credit; the impact of competitive pressures in the department store industry and other retail channels including specialty, off-price, discount and Internet retailers; changes in the Company’s ability to meet labor needs amid nationwide labor shortages and an intense competition for talent; changes in consumer spending patterns, debt levels and their ability to meet credit obligations; high levels of unemployment; changes in tax legislation; trade disputes and changes in trade policies including the imposition (or threat) of new or increased duties, taxes, tariffs and other charges impacting our products or supply chain; changes in legislation and governmental regulations; adequate and stable availability and pricing of materials, production facilities and labor from which the Company sources its merchandise; changes in operating expenses, including employee wages, commission structures and related benefits; system failures or data security breaches; inability to effectively utilize advancements in technology, including artificial intelligence; possible future acquisitions of store properties from other department store operators; the continued availability of financing in amounts and at the terms necessary to support the Company’s future business; fluctuations in SOFR and other base borrowing rates; potential disruption from terrorist activity and the effect on ongoing consumer confidence; epidemic, pandemic or public health issues and their effects on public health, our supply chain, the health and well-being of our employees and customers and the retail industry in general; potential disruption of international trade and supply chain efficiencies; global conflicts

(including the ongoing conflicts in the Middle East and Ukraine) and the possible impact on consumer spending patterns and other economic and demographic changes of similar or dissimilar nature, and other risks and uncertainties, including those detailed from time to time in our periodic reports filed with the Securities and Exchange Commission, particularly those set forth under the caption “Item 1A, Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2026.

​	​
CONTACT:	​
Dillard’s, Inc.	​
Julie J. Guymon	​
501-376-5965	​
julie.guymon@dillards.com	​

​

Filing Exhibits & Attachments

4 documents

Press Releases

• EX-99.1 EX-99.1 304.3 KB

Other Documents

• EX-101 EX-101.SCH 2.6 KB
• EX-101 EX-101.LAB 14.9 KB
• EX-101 EX-101.PRE 9.7 KB