Revenue during the quarter dropped 5.58 percent to $1,452.90 million from $1,538.80 million in the previous year period. Gross margin for the quarter expanded 112 basis points over the previous year period to 40.12 percent. Total expenses were 91.86 percent of quarterly revenues, up from 91.21 percent for the same period last year. That has resulted in a contraction of 66 basis points in operating margin to 8.14 percent.

Operating income for the quarter was $118.20 million, compared with $135.30 million in the previous year period.

Dillard's chief executive officer, William T. Dillard, II, stated, "While our sales decline weighed heavily on our operating results, we remained active in returning cash to shareholders through $93 million of share repurchase and dividends. We still ended the quarter with $302 million of cash largely due to better cash management."

Dillards has generated cash of $77.40 million from operating activities during the quarter, up 285.07 percent or $57.30 million, when compared with the last year period.

The company has spent $32.30 million cash to meet investing activities during the quarter as against cash outgo of $17.60 million in the last year period.

The company has spent $90.60 million cash to carry out financing activities during the quarter as against cash outgo of $55.10 million in the last year period.

Cash and cash equivalents stood at $301.50 million as on Apr. 29, 2017, up 100.60 percent or $151.20 million from $150.30 million on Apr. 30, 2016.

Debt remains almost stable
Total debt of Dillards remained almost stable for the quarter at $820.40 million, when compared with the last year period.