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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Dillards Inc | NYSE:DDS | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
2.70 | 0.63% | 434.00 | 443.94 | 429.00 | 442.47 | 66,610 | 22:30:00 |
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DELAWARE
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71-0388071
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(State or other jurisdiction
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(I.R.S. Employer
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of incorporation or organization)
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Identification No.)
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Large accelerated filer
x
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Accelerated filer
¨
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Non-accelerated filer
¨
(Do not check if a smaller reporting company)
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Smaller reporting company
¨
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Emerging growth company
¨
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Page
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Number
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Condensed Consolidated Balance Sheets as of
October 28, 2017, January 28, 2017 and October 29, 2016
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October 28,
2017 |
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January 28,
2017 |
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October 29,
2016 |
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Assets
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Current assets:
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Cash and cash equivalents
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$
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114,858
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$
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346,985
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$
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80,482
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Accounts receivable
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34,951
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48,230
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42,467
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Merchandise inventories
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1,957,258
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1,406,403
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1,901,991
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Federal and state income taxes
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10,777
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—
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4,284
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Other current assets
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52,926
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36,303
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61,243
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|||
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||||||
Total current assets
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2,170,770
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1,837,921
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2,090,467
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Property and equipment (net of accumulated depreciation and amortization of $2,624,883, $2,478,490 and $2,553,315, respectively)
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1,711,863
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1,790,267
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1,825,225
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Other assets
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252,701
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259,948
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268,536
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||||||
Total assets
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$
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4,135,334
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$
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3,888,136
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$
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4,184,228
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Liabilities and stockholders’ equity
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Current liabilities:
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Trade accounts payable and accrued expenses
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$
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1,277,658
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$
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839,305
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$
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1,123,087
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Current portion of long-term debt
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248,097
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87,201
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—
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Current portion of capital lease obligations
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1,082
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3,281
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3,258
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Other short-term borrowings
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—
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—
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17,000
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Federal and state income taxes
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—
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46,730
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—
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Total current liabilities
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1,526,837
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976,517
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1,143,345
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Long-term debt
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365,394
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526,106
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613,245
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Capital lease obligations
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3,167
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3,988
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4,249
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Other liabilities
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238,943
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238,424
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243,296
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Deferred income taxes
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210,346
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225,684
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243,888
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Subordinated debentures
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200,000
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200,000
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200,000
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Commitments and contingencies
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Stockholders’ equity:
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Common stock
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1,238
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1,238
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1,238
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Additional paid-in capital
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944,401
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943,467
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941,709
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Accumulated other comprehensive loss
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(11,137
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)
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(11,137
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)
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(16,559
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)
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Retained earnings
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4,210,507
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4,153,844
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4,099,256
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Less treasury stock, at cost
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(3,554,362
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)
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(3,369,995
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)
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(3,289,439
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)
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Total stockholders’ equity
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1,590,647
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1,717,417
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1,736,205
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Total liabilities and stockholders’ equity
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$
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4,135,334
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$
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3,888,136
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$
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4,184,228
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Three Months Ended
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Nine Months Ended
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October 28,
2017 |
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October 29,
2016 |
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October 28,
2017 |
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October 29,
2016 |
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Net sales
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$
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1,354,920
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$
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1,365,609
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$
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4,200,241
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$
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4,321,296
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Service charges and other income
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41,899
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40,886
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113,262
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112,746
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||||||||
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1,396,819
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1,406,495
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4,313,503
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4,434,042
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Cost of sales
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890,076
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878,865
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2,767,215
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2,810,803
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Selling, general and administrative expenses
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411,164
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410,563
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1,211,314
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1,204,051
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Depreciation and amortization
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57,040
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60,681
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176,919
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181,933
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Rentals
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6,263
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5,668
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18,921
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17,538
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Interest and debt expense, net
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14,980
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15,619
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46,460
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47,312
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Loss on early extinguishment of debt
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797
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—
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797
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—
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(Gain) loss on disposal of assets
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(4,813
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)
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23
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(4,855
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(853
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)
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Income before income taxes and income on and equity in earnings of joint ventures
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21,312
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35,076
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96,732
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173,258
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Income taxes
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6,785
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12,290
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33,005
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60,980
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Income on and equity in earnings of joint ventures
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12
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12
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34
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34
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Net income
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14,539
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22,798
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63,761
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112,312
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Retained earnings at beginning of period
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4,198,855
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4,078,824
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4,153,844
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3,994,211
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Cash dividends declared
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(2,887
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)
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(2,366
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)
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(7,098
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)
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(7,267
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)
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Retained earnings at end of period
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$
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4,210,507
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$
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4,099,256
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$
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4,210,507
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$
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4,099,256
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Earnings per share:
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Basic and diluted
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$
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0.50
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$
|
0.67
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$
|
2.14
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$
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3.24
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||||||||
Cash dividends declared per common share
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$
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0.10
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$
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0.07
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$
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0.24
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$
|
0.21
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Three Months Ended
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Nine Months Ended
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||||||||||||
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October 28,
2017 |
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October 29,
2016 |
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October 28,
2017 |
|
October 29,
2016 |
||||||||
Net income
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$
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14,539
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$
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22,798
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$
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63,761
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$
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112,312
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Other comprehensive income:
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||||
Amortization of retirement plan and other retiree benefit adjustments (net of tax of $0, $114, $0 and $344, respectively)
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—
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187
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—
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|
559
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||||
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||||||||
Comprehensive income
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$
|
14,539
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|
|
$
|
22,985
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|
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$
|
63,761
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|
|
$
|
112,871
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Nine Months Ended
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October 28,
2017 |
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October 29,
2016 |
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Operating activities:
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Net income
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$
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63,761
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$
|
112,312
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Adjustments to reconcile net income to net cash provided by operating activities:
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Depreciation and amortization of property and other deferred cost
|
|
178,528
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|
183,549
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|
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Loss (gain) on disposal of assets
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1,006
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(853
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)
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Gain from insurance proceeds
|
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(5,861
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)
|
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—
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Loss on early extinguishment of debt
|
|
797
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|
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—
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Changes in operating assets and liabilities:
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Decrease in accounts receivable
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13,279
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|
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4,671
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Increase in merchandise inventories
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(550,855
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)
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(529,212
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)
|
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Increase in other current assets
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(15,704
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)
|
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(13,198
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)
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Decrease in other assets
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4,451
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|
|
6,626
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|
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Increase in trade accounts payable and accrued expenses and other liabilities
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434,743
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|
|
433,797
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Decrease in income taxes
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(68,643
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)
|
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(71,787
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)
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|
||||
Net cash provided by operating activities
|
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55,502
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|
|
125,905
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Investing activities:
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Purchases of property and equipment
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(106,272
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)
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(73,374
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)
|
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Proceeds from disposal of assets
|
|
11,670
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|
|
1,049
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Proceeds from insurance
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4,935
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|
|
—
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Investment in joint venture
|
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—
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|
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(20,000
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)
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Distribution from joint venture
|
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2,065
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—
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||
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||||
Net cash used in investing activities
|
|
(87,602
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)
|
|
(92,325
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)
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Financing activities:
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|
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|
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Principal payments on long-term debt and capital lease obligations
|
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(3,020
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)
|
|
(3,046
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)
|
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Issuance cost of line of credit
|
|
(1,115
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)
|
|
—
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|
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Increase in short-term borrowings
|
|
—
|
|
|
17,000
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|
||
Cash dividends paid
|
|
(6,523
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)
|
|
(7,414
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)
|
||
Purchase of treasury stock
|
|
(189,369
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)
|
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(162,507
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)
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||
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|
||||
Net cash used in financing activities
|
|
(200,027
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)
|
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(155,967
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)
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||
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||||
Decrease in cash and cash equivalents
|
|
(232,127
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)
|
|
(122,387
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)
|
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Cash and cash equivalents, beginning of period
|
|
346,985
|
|
|
202,869
|
|
||
|
|
|
|
|
||||
Cash and cash equivalents, end of period
|
|
$
|
114,858
|
|
|
$
|
80,482
|
|
|
|
|
|
|
||||
Non-cash transactions:
|
|
|
|
|
|
|
||
Accrued capital expenditures
|
|
$
|
8,748
|
|
|
$
|
7,500
|
|
Accrued purchases of treasury stock
|
|
1,000
|
|
|
3,110
|
|
||
Stock awards
|
|
934
|
|
|
913
|
|
||
Insurance recoveries
|
|
—
|
|
|
2,761
|
|
(in thousands of dollars)
|
|
Retail
Operations
|
|
Construction
|
|
Consolidated
|
||||||
Three Months Ended October 28, 2017:
|
|
|
|
|
|
|
|
|
|
|||
Net sales from external customers
|
|
$
|
1,313,150
|
|
|
$
|
41,770
|
|
|
$
|
1,354,920
|
|
Gross profit
|
|
463,034
|
|
|
1,810
|
|
|
464,844
|
|
|||
Depreciation and amortization
|
|
56,878
|
|
|
162
|
|
|
57,040
|
|
|||
Interest and debt expense (income), net
|
|
14,988
|
|
|
(8
|
)
|
|
14,980
|
|
|||
Income before income taxes and income on and equity in earnings of joint ventures
|
|
21,073
|
|
|
239
|
|
|
21,312
|
|
|||
Income on and equity in earnings of joint ventures
|
|
12
|
|
|
—
|
|
|
12
|
|
|||
Total assets
|
|
4,097,385
|
|
|
37,949
|
|
|
4,135,334
|
|
|||
|
|
|
|
|
|
|
||||||
Three Months Ended October 29, 2016:
|
|
|
|
|
|
|
|
|||||
Net sales from external customers
|
|
$
|
1,322,641
|
|
|
$
|
42,968
|
|
|
$
|
1,365,609
|
|
Gross profit
|
|
484,441
|
|
|
2,303
|
|
|
486,744
|
|
|||
Depreciation and amortization
|
|
60,513
|
|
|
168
|
|
|
60,681
|
|
|||
Interest and debt expense (income), net
|
|
15,637
|
|
|
(18
|
)
|
|
15,619
|
|
|||
Income before income taxes and income on and equity in earnings of joint ventures
|
|
34,333
|
|
|
743
|
|
|
35,076
|
|
|||
Income on and equity in earnings of joint ventures
|
|
12
|
|
|
—
|
|
|
12
|
|
|||
Total assets
|
|
4,130,023
|
|
|
54,205
|
|
|
4,184,228
|
|
|||
|
|
|
|
|
|
|
||||||
Nine Months Ended October 28, 2017:
|
|
|
|
|
|
|
|
|||||
Net sales from external customers
|
|
$
|
4,083,223
|
|
|
$
|
117,018
|
|
|
$
|
4,200,241
|
|
Gross profit
|
|
1,428,025
|
|
|
5,001
|
|
|
1,433,026
|
|
|||
Depreciation and amortization
|
|
176,422
|
|
|
497
|
|
|
176,919
|
|
|||
Interest and debt expense (income), net
|
|
46,508
|
|
|
(48
|
)
|
|
46,460
|
|
|||
Income before income taxes and income on and equity in earnings of joint ventures
|
|
95,750
|
|
|
982
|
|
|
96,732
|
|
|||
Income on and equity in earnings of joint ventures
|
|
34
|
|
|
—
|
|
|
34
|
|
|||
Total assets
|
|
4,097,385
|
|
|
37,949
|
|
|
4,135,334
|
|
|||
|
|
|
|
|
|
|
||||||
Nine Months Ended October 29, 2016:
|
|
|
|
|
|
|
|
|||||
Net sales from external customers
|
|
$
|
4,175,439
|
|
|
$
|
145,857
|
|
|
$
|
4,321,296
|
|
Gross profit
|
|
1,503,895
|
|
|
6,598
|
|
|
1,510,493
|
|
|||
Depreciation and amortization
|
|
181,421
|
|
|
512
|
|
|
181,933
|
|
|||
Interest and debt expense (income), net
|
|
47,360
|
|
|
(48
|
)
|
|
47,312
|
|
|||
Income before income taxes and income on and equity in earnings of joint ventures
|
|
171,032
|
|
|
2,226
|
|
|
173,258
|
|
|||
Income on and equity in earnings of joint ventures
|
|
34
|
|
|
—
|
|
|
34
|
|
|||
Total assets
|
|
4,130,023
|
|
|
54,205
|
|
|
4,184,228
|
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
|
October 28,
2017 |
|
October 29,
2016 |
|
October 28,
2017 |
|
October 29,
2016 |
||||||||
Net income
|
|
$
|
14,539
|
|
|
$
|
22,798
|
|
|
$
|
63,761
|
|
|
$
|
112,312
|
|
|
|
|
|
|
|
|
|
|
||||||||
Weighted average shares of common stock outstanding
|
|
28,934
|
|
|
33,962
|
|
|
29,851
|
|
|
34,717
|
|
||||
|
|
|
|
|
|
|
|
|
||||||||
Basic and diluted earnings per share
|
|
$
|
0.50
|
|
|
$
|
0.67
|
|
|
$
|
2.14
|
|
|
$
|
3.24
|
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
|
October 28,
2017 |
|
October 29,
2016 |
|
October 28,
2017 |
|
October 29,
2016 |
||||||||
Components of net periodic benefit costs:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Service cost
|
|
$
|
874
|
|
|
$
|
983
|
|
|
$
|
2,620
|
|
|
$
|
2,950
|
|
Interest cost
|
|
1,807
|
|
|
1,920
|
|
|
5,422
|
|
|
5,759
|
|
||||
Net actuarial loss
|
|
—
|
|
|
301
|
|
|
—
|
|
|
903
|
|
||||
Net periodic benefit costs
|
|
$
|
2,681
|
|
|
$
|
3,204
|
|
|
$
|
8,042
|
|
|
$
|
9,612
|
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
|
October 28,
2017 |
|
October 29,
2016 |
|
October 28,
2017 |
|
October 29,
2016 |
||||||||
Cost of shares repurchased
|
|
$
|
23.7
|
|
|
$
|
53.1
|
|
|
$
|
184.4
|
|
|
$
|
165.6
|
|
Number of shares repurchased
|
|
0.4
|
|
|
0.9
|
|
|
3.5
|
|
|
2.5
|
|
||||
Average price per share
|
|
$
|
55.35
|
|
|
$
|
61.64
|
|
|
$
|
52.48
|
|
|
$
|
67.13
|
|
|
|
Amount Reclassified from AOCL
|
|
|
||||||||||||||
|
|
Three Months Ended
|
|
Nine Months Ended
|
|
Affected Line Item in the Statement Where Net Income Is Presented
|
||||||||||||
Details about AOCL Components
|
|
October 28, 2017
|
|
October 29, 2016
|
|
October 28,
2017 |
|
October 29,
2016 |
|
|||||||||
Defined benefit pension plan items
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Amortization of actuarial losses
|
|
$
|
—
|
|
|
$
|
301
|
|
|
$
|
—
|
|
|
$
|
903
|
|
|
Total before tax (1)
|
|
|
—
|
|
|
114
|
|
|
—
|
|
|
344
|
|
|
Income tax expense
|
||||
|
|
$
|
—
|
|
|
$
|
187
|
|
|
$
|
—
|
|
|
$
|
559
|
|
|
Total net of tax
|
|
|
Defined Benefit Pension Plan Items
|
||||||||||||||
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
|
October 28, 2017
|
|
October 29, 2016
|
|
October 28,
2017 |
|
October 29,
2016 |
||||||||
Beginning balance
|
|
$
|
11,137
|
|
|
$
|
16,746
|
|
|
$
|
11,137
|
|
|
$
|
17,118
|
|
|
|
|
|
|
|
|
|
|
||||||||
Other comprehensive income before reclassifications
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Amounts reclassified from AOCL
|
|
—
|
|
|
(187
|
)
|
|
—
|
|
|
(559
|
)
|
||||
Net other comprehensive income
|
|
—
|
|
|
(187
|
)
|
|
—
|
|
|
(559
|
)
|
||||
|
|
|
|
|
|
|
|
|
||||||||
Ending balance
|
|
$
|
11,137
|
|
|
$
|
16,559
|
|
|
$
|
11,137
|
|
|
$
|
16,559
|
|
|
|
Three Months Ended
|
||||||
|
|
October 28,
2017 |
|
October 29,
2016 |
||||
Net sales (in millions)
|
|
$
|
1,354.9
|
|
|
$
|
1,365.6
|
|
Retail stores sales trend
|
|
(1
|
)%
|
|
(4
|
)%
|
||
Comparable retail stores sales trend
|
|
(1
|
)%
|
|
(4
|
)%
|
||
Gross profit (in millions)
|
|
$
|
464.8
|
|
|
$
|
486.7
|
|
Gross profit as a percentage of net sales
|
|
34.3
|
%
|
|
35.6
|
%
|
||
Retail gross profit as a percentage of net sales
|
|
35.3
|
%
|
|
36.6
|
%
|
||
Selling, general and administrative expenses as a percentage of net sales
|
|
30.3
|
%
|
|
30.1
|
%
|
||
Cash flow from operations (in millions)
|
|
$
|
55.5
|
|
|
$
|
125.9
|
|
Total retail store count at end of period
|
|
293
|
|
|
294
|
|
||
Retail sales per square foot
|
|
$
|
27
|
|
|
$
|
27
|
|
Retail store inventory trend
|
|
3
|
%
|
|
(2
|
)%
|
||
Annualized retail merchandise inventory turnover
|
|
2.0
|
|
|
2.1
|
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||
|
|
October 28,
2017 |
|
October 29,
2016 |
|
October 28,
2017 |
|
October 29,
2016 |
||||
Net sales
|
|
100.0
|
%
|
|
100.0
|
%
|
|
100.0
|
%
|
|
100.0
|
%
|
Service charges and other income
|
|
3.1
|
|
|
3.0
|
|
|
2.7
|
|
|
2.6
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
103.1
|
|
|
103.0
|
|
|
102.7
|
|
|
102.6
|
|
|
|
|
|
|
|
|
|
|
||||
Cost of sales
|
|
65.7
|
|
|
64.4
|
|
|
65.9
|
|
|
65.0
|
|
Selling, general and administrative expenses
|
|
30.3
|
|
|
30.1
|
|
|
28.8
|
|
|
27.9
|
|
Depreciation and amortization
|
|
4.2
|
|
|
4.4
|
|
|
4.2
|
|
|
4.2
|
|
Rentals
|
|
0.5
|
|
|
0.4
|
|
|
0.5
|
|
|
0.4
|
|
Interest and debt expense, net
|
|
1.1
|
|
|
1.1
|
|
|
1.1
|
|
|
1.1
|
|
Loss on early extinguishment of debt
|
|
0.1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Gain on disposal of assets
|
|
(0.4
|
)
|
|
—
|
|
|
(0.1
|
)
|
|
—
|
|
|
|
|
|
|
|
|
|
|
||||
Income before income taxes and income on and equity in earnings of joint ventures
|
|
1.6
|
|
|
2.6
|
|
|
2.3
|
|
|
4.0
|
|
Income taxes
|
|
0.5
|
|
|
0.9
|
|
|
0.8
|
|
|
1.4
|
|
Income on and equity in earnings of joint ventures
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
||||
Net income
|
|
1.1
|
%
|
|
1.7
|
%
|
|
1.5
|
%
|
|
2.6
|
%
|
|
|
Three Months Ended
|
|
|
||||||||
(in thousands of dollars)
|
|
October 28,
2017 |
|
October 29,
2016 |
|
$ Change
|
||||||
Net sales:
|
|
|
|
|
|
|
|
|
|
|||
Retail operations segment
|
|
$
|
1,313,150
|
|
|
$
|
1,322,641
|
|
|
$
|
(9,491
|
)
|
Construction segment
|
|
41,770
|
|
|
42,968
|
|
|
(1,198
|
)
|
|||
Total net sales
|
|
$
|
1,354,920
|
|
|
$
|
1,365,609
|
|
|
$
|
(10,689
|
)
|
|
|
% Change
2017-2016
|
|
% of
Net Sales
|
||
Retail operations segment
|
|
|
|
|
|
|
Cosmetics
|
|
(6.9
|
)%
|
|
14
|
%
|
Ladies’ apparel
|
|
2.6
|
|
|
24
|
|
Ladies’ accessories and lingerie
|
|
1.0
|
|
|
13
|
|
Juniors’ and children’s apparel
|
|
0.8
|
|
|
10
|
|
Men’s apparel and accessories
|
|
(0.3
|
)
|
|
17
|
|
Shoes
|
|
(2.4
|
)
|
|
16
|
|
Home and furniture
|
|
(1.2
|
)
|
|
3
|
|
|
|
|
|
|
97
|
|
Construction segment
|
|
(2.8
|
)
|
|
3
|
|
Total
|
|
|
|
|
100
|
%
|
|
|
Nine Months Ended
|
|
|
||||||||
(in thousands of dollars)
|
|
October 28,
2017 |
|
October 29,
2016 |
|
$ Change
|
||||||
Net sales:
|
|
|
|
|
|
|
|
|
|
|||
Retail operations segment
|
|
$
|
4,083,223
|
|
|
$
|
4,175,439
|
|
|
$
|
(92,216
|
)
|
Construction segment
|
|
117,018
|
|
|
145,857
|
|
|
(28,839
|
)
|
|||
Total net sales
|
|
$
|
4,200,241
|
|
|
$
|
4,321,296
|
|
|
$
|
(121,055
|
)
|
|
|
% Change
2017-2016
|
|
% of
Net Sales
|
||
Retail operations segment
|
|
|
|
|
|
|
Cosmetics
|
|
(7.4
|
)%
|
|
14
|
%
|
Ladies’ apparel
|
|
1.2
|
|
|
24
|
|
Ladies’ accessories and lingerie
|
|
(2.6
|
)
|
|
14
|
|
Juniors’ and children’s apparel
|
|
(0.6
|
)
|
|
9
|
|
Men’s apparel and accessories
|
|
(2.0
|
)
|
|
17
|
|
Shoes
|
|
(2.8
|
)
|
|
16
|
|
Home and furniture
|
|
(5.2
|
)
|
|
3
|
|
|
|
|
|
|
97
|
|
Construction segment
|
|
(19.8
|
)
|
|
3
|
|
Total
|
|
|
|
|
100
|
%
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
|
Three
Months
|
|
Nine
Months
|
||||||||||||||||
(in thousands of dollars)
|
|
October 28, 2017
|
|
October 29, 2016
|
|
October 28,
2017 |
|
October 29,
2016 |
|
$ Change 2017-2016
|
|
$ Change 2017-2016
|
||||||||||||
Service charges and other income:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Retail operations segment
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Income from Wells Fargo Alliance and former Synchrony Alliance
|
|
$
|
28,181
|
|
|
$
|
27,711
|
|
|
$
|
73,901
|
|
|
$
|
75,603
|
|
|
$
|
470
|
|
|
$
|
(1,702
|
)
|
Shipping and handling income
|
|
7,268
|
|
|
6,309
|
|
|
21,919
|
|
|
19,366
|
|
|
959
|
|
|
2,553
|
|
||||||
Leased department income
|
|
1,307
|
|
|
1,659
|
|
|
4,280
|
|
|
5,111
|
|
|
(352
|
)
|
|
(831
|
)
|
||||||
Other
|
|
4,583
|
|
|
4,987
|
|
|
11,720
|
|
|
12,091
|
|
|
(404
|
)
|
|
(371
|
)
|
||||||
|
|
41,339
|
|
|
40,666
|
|
|
111,820
|
|
|
112,171
|
|
|
673
|
|
|
(351
|
)
|
||||||
Construction segment
|
|
560
|
|
|
220
|
|
|
1,442
|
|
|
575
|
|
|
340
|
|
|
867
|
|
||||||
Total service charges and other income
|
|
$
|
41,899
|
|
|
$
|
40,886
|
|
|
$
|
113,262
|
|
|
$
|
112,746
|
|
|
$
|
1,013
|
|
|
$
|
516
|
|
|
|
|
|
|
|
|
|||||||||
(in thousands of dollars)
|
|
October 28, 2017
|
|
October 29, 2016
|
|
$ Change
|
|
% Change
|
|||||||
Gross profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Three months ended
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Retail operations segment
|
|
$
|
463,034
|
|
|
$
|
484,441
|
|
|
$
|
(21,407
|
)
|
|
(4.4
|
)%
|
Construction segment
|
|
1,810
|
|
|
2,303
|
|
|
(493
|
)
|
|
(21.4
|
)
|
|||
Total gross profit
|
|
$
|
464,844
|
|
|
$
|
486,744
|
|
|
$
|
(21,900
|
)
|
|
(4.5
|
)%
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
|
|
|
|
|
|
|
|||||||
Nine months ended
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Retail operations segment
|
|
$
|
1,428,025
|
|
|
$
|
1,503,895
|
|
|
$
|
(75,870
|
)
|
|
(5.0
|
)%
|
Construction segment
|
|
5,001
|
|
|
6,598
|
|
|
(1,597
|
)
|
|
(24.2
|
)
|
|||
Total gross profit
|
|
$
|
1,433,026
|
|
|
$
|
1,510,493
|
|
|
$
|
(77,467
|
)
|
|
(5.1
|
)%
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||
|
|
October 28, 2017
|
|
October 29, 2016
|
|
October 28, 2017
|
|
October 29, 2016
|
||||
Gross profit as a percentage of segment
net sales:
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail operations segment
|
|
35.3
|
%
|
|
36.6
|
%
|
|
35.0
|
%
|
|
36.0
|
%
|
Construction segment
|
|
4.3
|
|
|
5.4
|
|
|
4.3
|
|
|
4.5
|
|
Total gross profit as a percentage of net sales
|
|
34.3
|
|
|
35.6
|
|
|
34.1
|
|
|
35.0
|
|
|
|
|
|
|
|
|
|||||||||
(in thousands of dollars)
|
|
October 28, 2017
|
|
October 29, 2016
|
|
$ Change
|
|
% Change
|
|||||||
SG&A:
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Three months ended
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Retail operations segment
|
|
$
|
409,211
|
|
|
$
|
408,943
|
|
|
$
|
268
|
|
|
0.1
|
%
|
Construction segment
|
|
1,953
|
|
|
1,620
|
|
|
333
|
|
|
20.6
|
|
|||
Total SG&A
|
|
$
|
411,164
|
|
|
$
|
410,563
|
|
|
$
|
601
|
|
|
0.1
|
%
|
|
|
|
|
|
|
|
|
|
|||||||
Nine months ended
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Retail operations segment
|
|
$
|
1,206,354
|
|
|
$
|
1,199,597
|
|
|
$
|
6,757
|
|
|
0.6
|
%
|
Construction segment
|
|
4,960
|
|
|
4,454
|
|
|
506
|
|
|
11.4
|
|
|||
Total SG&A
|
|
$
|
1,211,314
|
|
|
$
|
1,204,051
|
|
|
$
|
7,263
|
|
|
0.6
|
%
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||
|
|
October 28, 2017
|
|
October 29, 2016
|
|
October 28, 2017
|
|
October 29, 2016
|
||||
SG&A as a percentage of segment net sales:
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail operations segment
|
|
31.2
|
%
|
|
30.9
|
%
|
|
29.5
|
%
|
|
28.7
|
%
|
Construction segment
|
|
4.7
|
|
|
3.8
|
|
|
4.2
|
|
|
3.1
|
|
Total SG&A as a percentage of net sales
|
|
30.3
|
|
|
30.1
|
|
|
28.8
|
|
|
27.9
|
|
|
|
|
|
|
|
|
|||||||||
(in thousands of dollars)
|
|
October 28, 2017
|
|
October 29, 2016
|
|
$ Change
|
|
% Change
|
|||||||
Depreciation and amortization:
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Three months ended
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Retail operations segment
|
|
$
|
56,878
|
|
|
$
|
60,513
|
|
|
$
|
(3,635
|
)
|
|
(6.0
|
)%
|
Construction segment
|
|
162
|
|
|
168
|
|
|
(6
|
)
|
|
(3.6
|
)
|
|||
Total depreciation and amortization
|
|
$
|
57,040
|
|
|
$
|
60,681
|
|
|
$
|
(3,641
|
)
|
|
(6.0
|
)%
|
|
|
|
|
|
|
|
|
|
|||||||
Nine months ended
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Retail operations segment
|
|
$
|
176,422
|
|
|
$
|
181,421
|
|
|
$
|
(4,999
|
)
|
|
(2.8
|
)%
|
Construction segment
|
|
497
|
|
|
512
|
|
|
(15
|
)
|
|
(2.9
|
)
|
|||
Total depreciation and amortization
|
|
$
|
176,919
|
|
|
$
|
181,933
|
|
|
$
|
(5,014
|
)
|
|
(2.8
|
)%
|
|
|
|
|
|
|
|
|||||||||
(in thousands of dollars)
|
|
October 28, 2017
|
|
October 29, 2016
|
|
$ Change
|
|
% Change
|
|||||||
Interest and debt expense (income), net:
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Three months ended
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Retail operations segment
|
|
$
|
14,988
|
|
|
$
|
15,637
|
|
|
$
|
(649
|
)
|
|
(4.2
|
)%
|
Construction segment
|
|
(8
|
)
|
|
(18
|
)
|
|
10
|
|
|
55.6
|
|
|||
Total interest and debt expense, net
|
|
$
|
14,980
|
|
|
$
|
15,619
|
|
|
$
|
(639
|
)
|
|
(4.1
|
)%
|
|
|
|
|
|
|
|
|
|
|||||||
Nine months ended
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Retail operations segment
|
|
$
|
46,508
|
|
|
$
|
47,360
|
|
|
$
|
(852
|
)
|
|
(1.8
|
)%
|
Construction segment
|
|
(48
|
)
|
|
(48
|
)
|
|
—
|
|
|
—
|
|
|||
Total interest and debt expense, net
|
|
$
|
46,460
|
|
|
$
|
47,312
|
|
|
$
|
(852
|
)
|
|
(1.8
|
)%
|
|
|
|
|
|
|
|
|||||||||
(in thousands of dollars)
|
|
October 28, 2017
|
|
October 29, 2016
|
|
$ Change
|
|
% Change
|
|||||||
Loss on early extinguishment of debt:
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Three months ended
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Retail operations segment
|
|
$
|
797
|
|
|
$
|
—
|
|
|
$
|
797
|
|
|
—
|
%
|
Construction segment
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||
Total loss on early extinguishment of debt
|
|
$
|
797
|
|
|
$
|
—
|
|
|
$
|
797
|
|
|
—
|
%
|
|
|
|
|
|
|
|
|
|
|||||||
Nine months ended
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Retail operations segment
|
|
$
|
797
|
|
|
$
|
—
|
|
|
$
|
797
|
|
|
—
|
%
|
Construction segment
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||
Total loss on early extinguishment of debt
|
|
$
|
797
|
|
|
$
|
—
|
|
|
$
|
797
|
|
|
—
|
%
|
|
|
|
|
|
|
|
|||||||||
(in thousands of dollars)
|
|
October 28, 2017
|
|
October 29, 2016
|
|
$ Change
|
|
% Change
|
|||||||
(Gain) loss on disposal of assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Three months ended
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Retail operations segment
|
|
$
|
(4,813
|
)
|
|
$
|
28
|
|
|
$
|
(4,841
|
)
|
|
(17,289.3
|
)%
|
Construction segment
|
|
—
|
|
|
(5
|
)
|
|
5
|
|
|
100.0
|
|
|||
Total (gain) loss on disposal of assets
|
|
$
|
(4,813
|
)
|
|
$
|
23
|
|
|
$
|
(4,836
|
)
|
|
(21,026.1
|
)%
|
|
|
|
|
|
|
|
|
|
|||||||
Nine months ended
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Retail operations segment
|
|
$
|
(4,850
|
)
|
|
$
|
(838
|
)
|
|
$
|
(4,012
|
)
|
|
(478.8
|
)%
|
Construction segment
|
|
(5
|
)
|
|
(15
|
)
|
|
10
|
|
|
66.7
|
|
|||
Total gain on disposal of assets
|
|
$
|
(4,855
|
)
|
|
$
|
(853
|
)
|
|
$
|
(4,002
|
)
|
|
(469.2
|
)%
|
|
|
Nine Months Ended
|
|
|
||||||||
(in thousands of dollars)
|
|
October 28, 2017
|
|
October 29, 2016
|
|
$ Change
|
||||||
Operating Activities
|
|
$
|
55,502
|
|
|
$
|
125,905
|
|
|
$
|
(70,403
|
)
|
Investing Activities
|
|
(87,602
|
)
|
|
(92,325
|
)
|
|
4,723
|
|
|||
Financing Activities
|
|
(200,027
|
)
|
|
(155,967
|
)
|
|
(44,060
|
)
|
|||
Total Cash Used
|
|
$
|
(232,127
|
)
|
|
$
|
(122,387
|
)
|
|
$
|
(109,740
|
)
|
Issuer Purchases of Equity Securities
|
||||||||||||||
Period
|
|
(a) Total Number of Shares Purchased
|
|
|
(b) Average Price Paid per Share
|
|
|
(c) Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs
|
|
|
(d) Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs
|
|
||
July 30, 2017 through August 26, 2017
|
|
70,905
|
|
|
$
|
56.42
|
|
|
70,905
|
|
|
$
|
89,185,315
|
|
August 27, 2017 through September 30, 2017
|
|
168,293
|
|
|
57.79
|
|
|
168,293
|
|
|
79,459,124
|
|
||
October 1, 2017 through October 28, 2017
|
|
189,482
|
|
|
52.77
|
|
|
189,482
|
|
|
69,459,732
|
|
||
Total
|
|
428,680
|
|
|
$
|
55.35
|
|
|
428,680
|
|
|
$
|
69,459,732
|
|
Number
|
|
Description
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
||
|
|
|
|
||
|
|
|
|
||
|
|
|
|
||
|
|
|
|
||
|
|
|
101.INS
|
|
XBRL Instance Document
|
|
|
|
101.SCH
|
|
XBRL Taxonomy Extension Schema Document
|
|
|
|
101.CAL
|
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
|
|
|
101.DEF
|
|
XBRL Taxonomy Extension Definition Linkbase Document
|
|
|
|
101.LAB
|
|
XBRL Taxonomy Extension Label Linkbase Document
|
|
|
|
101.PRE
|
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
|
|
|
|
|
|
DILLARD’S, INC.
|
|
|
|
(Registrant)
|
|
|
|
|
|
|
|
|
Date:
|
November 30, 2017
|
|
/s/ Phillip R. Watts
|
|
|
|
Phillip R. Watts
|
|
|
|
Senior Vice President, Co-Principal Financial Officer and Principal Accounting Officer
|
|
|
|
|
|
|
|
/s/ Chris B. Johnson
|
|
|
|
Chris B. Johnson
|
|
|
|
Senior Vice President and Co-Principal Financial Officer
|
1 Year Dillards Chart |
1 Month Dillards Chart |
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