William Dillard

NEW YORK — Further proof that the sluggish economy is affecting higher-income households much less than lower-income households can be found in the quarterly profits of Dillard's and Nordstrom's, which both reported earnings this week. Dillard’s Inc. reported Friday that profit for the quarter ended Oct. 29 soared a record 85% to $26.6 million, compared with $14.4 million in the year-ago period. Strong comps and contained expenses propelled the strong performance. Revenue rose to $1.38 billion, from $1.34 billion, beating Wall Street’s expected $1.36 billion in sales. Same-store sales increased 5%. “This record-setting third quarter performance further solidifies our

LITTLE ROCK, Ark. — Shortly after Nordstrom reported a 20% quarterly earnings gain, fellow luxury retailer Dillard's posted net income of $17.6 million, or 32 cents per share, compared with $6.8 million, or 10 cents per share, for the same period last year. Same-store sales for the second quarter were up 6%. Net sales for the quarter were $1.44 billion compared with $1.4 billion last year. Dillard’s CEO, William Dillard, II, stated, “Our strong second quarter operating results solidified a very successful first half of 2011, essentially doubling our earnings per share to $1.66 from 80 cents. While we

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