Quarterly Results of Operations (unaudited)

12 Months Ended

Feb. 02, 2013

Quarterly Results of Operations (unaudited)

Quarterly Results of Operations (unaudited)

15. Quarterly Results of Operations (unaudited)

	Fiscal 2012, Three Months Ended
(in thousands of dollars, except per share data)	April 28		July 28		October 27		February 2
Net sales	$	1,549,319	$	1,487,925	$	1,449,623	$	2,106,302
Gross profit		592,406		500,123		530,000		723,532
Net income		94,983		31,022		48,514		161,443
Diluted earnings per share:
Net income	$	1.89	$	0.63	$	1.01	$	3.36

	Fiscal 2011, Three Months Ended
(in thousands of dollars, except per share data)	April 30		July 30		October 29		January 28
Net sales	$	1,469,198	$	1,441,747	$	1,382,612	$	1,970,043
Gross profit		569,173		478,224		501,533		667,401
Net income		76,677		17,565		228,171		141,496
Diluted earnings per share:
Net income	$	1.31	$	0.32	$	4.31	$	2.77

        Total of quarterly earnings per common share may not equal the annual amount because net income per common share is calculated independently for each quarter.

        Quarterly information for fiscal 2012 and fiscal 2011 includes the following items:

First Quarter

2011

• •

  a $4.2 million pretax gain ($2.7 million after tax or $0.05 per share) related to a distribution from a mall joint venture.

  •

  a $1.2 million pretax charge ($0.8 million after tax or $0.01 per share) for asset impairment and store closing charges related to the write-down of one property held for sale.

Second Quarter

2011

• •

  a $2.1 million pretax gain ($1.4 million after tax or $0.02 per share) related to the sale of an interest in a mall joint venture.

Third Quarter

2012

• •

  a $1.1 million pretax gain ($0.7 million after tax or $0.01 per share) related to the sale of two former retail store locations.

  •

  a $1.7 million income tax benefit ($0.04 per share) due to a reversal of a valuation allowance related to a deferred tax asset consisting of a capital loss carryforward.

2011

• •

  a $201.6 million income tax benefit ($3.81 per share) due to a reversal of a valuation allowance related to the amount of the capital loss carryforward used to offset the capital gain income recognized on the taxable transfer of properties to our REIT.

  •

  a $1.3 million pretax gain ($0.9 million after tax or $0.02 per share) related to the sale of two former retail store locations.

Fourth Quarter

2012

• •

  a $10.3 million pretax gain ($6.8 million after tax or $0.14 per share) related to the sale of a former retail store location.

  •

  a $1.6 million pretax charge ($1.1 million after tax or $0.02 per share) for asset impairment and store closing charges related to the write-down of a property held for sale and of an operating property.

  •

  an $18.1 million income tax benefit ($0.38 per share) due to a one-time deduction related to dividends paid to the Dillard's Inc. Investment and Employee Stock Ownership Plan.

2011

• •

  a $44.5 million pretax gain ($28.7 million after tax or $0.56 per share), net of settlement related expenses, related to the settlement of a lawsuit with JDA Software Group for $57.0 million.