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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
April 29, 2017, January 28, 2017 and April 30, 2016
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Condensed Consolidated Statements of Income and Retained Earnings for the Three Months Ended April 29, 2017 and April 30, 2016
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Condensed Consolidated Statements of Comprehensive Income for the Three Months Ended April 29, 2017 and April 30, 2016
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Condensed Consolidated Statements of Cash Flows for the Three Months Ended April 29, 2017 and April 30, 2016
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Item 2.
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Unregistered Sales of Equity Securities and Use of Proceeds
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|
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April 29,
2017 |
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January 28,
2017 |
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April 30,
2016 |
||||||
Assets
|
|
|
|
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|
|||
Current assets:
|
|
|
|
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|
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|
|
|
|||
Cash and cash equivalents
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$
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301,481
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$
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346,985
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|
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$
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150,310
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Accounts receivable
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39,424
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|
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48,230
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|
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42,532
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|
|||
Merchandise inventories
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1,713,881
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1,406,403
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1,647,845
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|
|||
Other current assets
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37,956
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36,303
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|
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42,007
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|||
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|
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|
||||||
Total current assets
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2,092,742
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1,837,921
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1,882,694
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|||
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|
||||||
Property and equipment (net of accumulated depreciation and amortization of $2,520,550, $2,478,490 and $2,437,660, respectively)
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1,764,519
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1,790,267
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1,889,318
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|
|||
Other assets
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257,644
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259,948
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253,634
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|||
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||||||
Total assets
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$
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4,114,905
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$
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3,888,136
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|
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$
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4,025,646
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|
|
|
|
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|
||||||
Liabilities and stockholders’ equity
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|
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Current liabilities:
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Trade accounts payable and accrued expenses
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$
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1,058,329
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$
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839,305
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$
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846,819
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Current portion of long-term debt
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87,201
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87,201
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|
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—
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|
|||
Current portion of capital lease obligations
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3,305
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3,281
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|
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3,305
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|
|||
Federal and state income taxes
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86,861
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|
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46,730
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49,762
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|||
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|
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||||||
Total current liabilities
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1,235,696
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976,517
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899,886
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||||||
Long-term debt
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526,167
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526,106
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613,122
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|
|||
Capital lease obligations
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3,721
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3,988
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7,025
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|
|||
Other liabilities
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238,276
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238,424
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241,251
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Deferred income taxes
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220,633
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225,684
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252,350
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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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943,467
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943,467
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940,796
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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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(16,932
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)
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|||
Retained earnings
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4,217,972
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4,153,844
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4,069,151
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Less treasury stock, at cost
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(3,461,128
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)
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(3,369,995
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)
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(3,182,241
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)
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||||||
Total stockholders’ equity
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1,690,412
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1,717,417
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1,812,012
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|||
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||||||
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||||||
Total liabilities and stockholders’ equity
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$
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4,114,905
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$
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3,888,136
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$
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4,025,646
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Three Months Ended
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||||||
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April 29,
2017 |
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April 30,
2016 |
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Net sales
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$
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1,418,111
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$
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1,503,242
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Service charges and other income
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34,763
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35,555
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|
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1,452,874
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1,538,797
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Cost of sales
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870,085
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938,579
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Selling, general and administrative expenses
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398,452
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398,344
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Depreciation and amortization
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60,011
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60,645
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Rentals
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6,202
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5,990
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Interest and debt expense, net
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15,682
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15,714
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Gain on disposal of assets
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(19
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)
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(95
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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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102,461
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119,620
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Income taxes
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36,170
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42,200
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|
||
Income on and equity in earnings of joint ventures
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11
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11
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Net income
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66,302
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77,431
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|
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Retained earnings at beginning of period
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4,153,844
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3,994,211
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|
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Cash dividends declared
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(2,174
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)
|
|
(2,491
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)
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||
|
|
|
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|
||||
Retained earnings at end of period
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$
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4,217,972
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$
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4,069,151
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|
|
|
|
|
|
||||
Earnings per share:
|
|
|
|
|
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|
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Basic and diluted
|
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$
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2.12
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|
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$
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2.17
|
|
|
|
|
|
|
||||
Cash dividends declared per common share
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$
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0.07
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$
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0.07
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Three Months Ended
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||||||
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April 29,
2017 |
|
April 30,
2016 |
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Net income
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$
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66,302
|
|
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$
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77,431
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Other comprehensive income:
|
|
|
|
|
|
|
||
Amortization of retirement plan and other retiree benefit adjustments (net of tax of $0 and $115, respectively)
|
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—
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|
|
186
|
|
||
|
|
|
|
|
||||
Comprehensive income
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|
$
|
66,302
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|
|
$
|
77,617
|
|
|
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Three Months Ended
|
||||||
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April 29,
2017 |
|
April 30,
2016 |
||||
Operating activities:
|
|
|
|
|
|
|
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Net income
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$
|
66,302
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|
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$
|
77,431
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Adjustments to reconcile net income to net cash provided by operating activities:
|
|
|
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|
|
|
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Depreciation and amortization of property and other deferred cost
|
|
60,585
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|
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61,188
|
|
||
Gain on disposal of assets
|
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(19
|
)
|
|
(95
|
)
|
||
Changes in operating assets and liabilities:
|
|
|
|
|
|
|
||
Decrease in accounts receivable
|
|
8,806
|
|
|
4,606
|
|
||
Increase in merchandise inventories
|
|
(307,478
|
)
|
|
(273,340
|
)
|
||
(Increase) decrease in other current assets
|
|
(1,653
|
)
|
|
2,364
|
|
||
Decrease in other assets
|
|
1,428
|
|
|
1,117
|
|
||
Increase in trade accounts payable and accrued expenses and other liabilities
|
|
214,390
|
|
|
159,485
|
|
||
Increase (decrease) in income taxes
|
|
35,080
|
|
|
(12,580
|
)
|
||
|
|
|
|
|
||||
Net cash provided by operating activities
|
|
77,441
|
|
|
20,176
|
|
||
|
|
|
|
|
||||
Investing activities:
|
|
|
|
|
|
|
||
Purchases of property and equipment
|
|
(34,538
|
)
|
|
(17,741
|
)
|
||
Proceeds from disposal of assets
|
|
69
|
|
|
167
|
|
||
Proceeds from insurance
|
|
1,875
|
|
|
—
|
|
||
Distribution from joint venture
|
|
340
|
|
|
—
|
|
||
|
|
|
|
|
||||
Net cash used in investing activities
|
|
(32,254
|
)
|
|
(17,574
|
)
|
||
|
|
|
|
|
||||
Financing activities:
|
|
|
|
|
|
|
||
Principal payments on long-term debt and capital lease obligations
|
|
(243
|
)
|
|
(223
|
)
|
||
Cash dividends paid
|
|
(2,312
|
)
|
|
(2,512
|
)
|
||
Purchase of treasury stock
|
|
(88,136
|
)
|
|
(52,426
|
)
|
||
|
|
|
|
|
||||
Net cash used in financing activities
|
|
(90,691
|
)
|
|
(55,161
|
)
|
||
|
|
|
|
|
||||
Decrease in cash and cash equivalents
|
|
(45,504
|
)
|
|
(52,559
|
)
|
||
Cash and cash equivalents, beginning of period
|
|
346,985
|
|
|
202,869
|
|
||
|
|
|
|
|
||||
Cash and cash equivalents, end of period
|
|
$
|
301,481
|
|
|
$
|
150,310
|
|
|
|
|
|
|
||||
Non-cash transactions:
|
|
|
|
|
|
|
||
Accrued capital expenditures
|
|
$
|
3,205
|
|
|
$
|
3,418
|
|
Accrued purchases of treasury stock
|
|
2,997
|
|
|
5,993
|
|
(in thousands of dollars)
|
|
Retail
Operations
|
|
Construction
|
|
Consolidated
|
||||||
Three Months Ended April 29, 2017:
|
|
|
|
|
|
|
|
|
|
|||
Net sales from external customers
|
|
$
|
1,385,520
|
|
|
$
|
32,591
|
|
|
$
|
1,418,111
|
|
Gross profit
|
|
546,500
|
|
|
1,526
|
|
|
548,026
|
|
|||
Depreciation and amortization
|
|
59,843
|
|
|
168
|
|
|
60,011
|
|
|||
Interest and debt expense (income), net
|
|
15,703
|
|
|
(21
|
)
|
|
15,682
|
|
|||
Income before income taxes and income on and equity in earnings of joint ventures
|
|
102,361
|
|
|
100
|
|
|
102,461
|
|
|||
Income on and equity in earnings of joint ventures
|
|
11
|
|
|
—
|
|
|
11
|
|
|||
Total assets
|
|
4,061,873
|
|
|
53,032
|
|
|
4,114,905
|
|
|||
|
|
|
|
|
|
|
||||||
Three Months Ended April 30, 2016:
|
|
|
|
|
|
|
|
|||||
Net sales from external customers
|
|
$
|
1,449,389
|
|
|
$
|
53,853
|
|
|
$
|
1,503,242
|
|
Gross profit
|
|
562,181
|
|
|
2,482
|
|
|
564,663
|
|
|||
Depreciation and amortization
|
|
60,476
|
|
|
169
|
|
|
60,645
|
|
|||
Interest and debt expense (income), net
|
|
15,730
|
|
|
(16
|
)
|
|
15,714
|
|
|||
Income before income taxes and income on and equity in earnings of joint ventures
|
|
118,779
|
|
|
841
|
|
|
119,620
|
|
|||
Income on and equity in earnings of joint ventures
|
|
11
|
|
|
—
|
|
|
11
|
|
|||
Total assets
|
|
3,980,286
|
|
|
45,360
|
|
|
4,025,646
|
|
|
|
Three Months Ended
|
||||||
|
|
April 29,
2017 |
|
April 30,
2016 |
||||
Net income
|
|
$
|
66,302
|
|
|
$
|
77,431
|
|
|
|
|
|
|
||||
Weighted average shares of common stock outstanding
|
|
31,257
|
|
|
35,652
|
|
||
|
|
|
|
|
||||
Basic and diluted earnings per share
|
|
$
|
2.12
|
|
|
$
|
2.17
|
|
|
|
Three Months Ended
|
||||||
|
|
April 29,
2017 |
|
April 30,
2016 |
||||
Components of net periodic benefit costs:
|
|
|
|
|
|
|
||
Service cost
|
|
$
|
873
|
|
|
$
|
983
|
|
Interest cost
|
|
1,807
|
|
|
1,920
|
|
||
Net actuarial loss
|
|
—
|
|
|
301
|
|
||
Net periodic benefit costs
|
|
$
|
2,680
|
|
|
$
|
3,204
|
|
|
|
Three Months Ended
|
||||||
|
|
April 29,
2017 |
|
April 30,
2016 |
||||
Cost of shares repurchased
|
|
$
|
91.1
|
|
|
$
|
58.4
|
|
Number of shares repurchased
|
|
1.7
|
|
|
0.7
|
|
||
Average price per share
|
|
$
|
53.79
|
|
|
$
|
80.98
|
|
|
|
Amount Reclassified from AOCL
|
|
|
||||||
|
|
Three Months Ended
|
|
Affected Line Item in the Statement Where Net Income Is Presented
|
||||||
Details about AOCL Components
|
|
April 29, 2017
|
|
April 30, 2016
|
|
|||||
Defined benefit pension plan items
|
|
|
|
|
|
|
|
|
||
Amortization of actuarial losses
|
|
$
|
—
|
|
|
$
|
301
|
|
|
Total before tax (1)
|
|
|
—
|
|
|
115
|
|
|
Income tax expense
|
||
|
|
$
|
—
|
|
|
$
|
186
|
|
|
Total net of tax
|
|
|
Defined Benefit Pension Plan Items
|
||||||
|
|
Three Months Ended
|
||||||
|
|
April 29, 2017
|
|
April 30, 2016
|
||||
Beginning balance
|
|
$
|
11,137
|
|
|
$
|
17,118
|
|
|
|
|
|
|
||||
Other comprehensive income before reclassifications
|
|
—
|
|
|
—
|
|
||
Amounts reclassified from AOCL
|
|
—
|
|
|
(186
|
)
|
||
Net other comprehensive income
|
|
—
|
|
|
(186
|
)
|
||
|
|
|
|
|
||||
Ending balance
|
|
$
|
11,137
|
|
|
$
|
16,932
|
|
|
|
Three Months Ended
|
||||||
|
|
April 29,
2017 |
|
April 30,
2016 |
||||
Net sales (in millions)
|
|
$
|
1,418.1
|
|
|
$
|
1,503.2
|
|
Retail stores sales trend
|
|
(4
|
)%
|
|
(5
|
)%
|
||
Comparable retail stores sales trend
|
|
(4
|
)%
|
|
(5
|
)%
|
||
Gross profit (in millions)
|
|
$
|
548.0
|
|
|
$
|
564.7
|
|
Gross profit as a percentage of net sales
|
|
38.6
|
%
|
|
37.6
|
%
|
||
Retail gross profit as a percentage of net sales
|
|
39.4
|
%
|
|
38.8
|
%
|
||
Selling, general and administrative expenses as a percentage of net sales
|
|
28.1
|
%
|
|
26.5
|
%
|
||
Cash flow from operations (in millions)
|
|
$
|
77.4
|
|
|
$
|
20.2
|
|
Total retail store count at end of period
|
|
293
|
|
|
296
|
|
||
Retail sales per square foot
|
|
$
|
29
|
|
|
$
|
30
|
|
Retail store inventory trend
|
|
4
|
%
|
|
—
|
%
|
||
Annualized retail merchandise inventory turnover
|
|
2.1
|
|
|
2.4
|
|
|
|
Three Months Ended
|
||||
|
|
April 29,
2017 |
|
April 30,
2016 |
||
Net sales
|
|
100.0
|
%
|
|
100.0
|
%
|
Service charges and other income
|
|
2.5
|
|
|
2.4
|
|
|
|
|
|
|
||
|
|
102.5
|
|
|
102.4
|
|
|
|
|
|
|
||
Cost of sales
|
|
61.4
|
|
|
62.4
|
|
Selling, general and administrative expenses
|
|
28.1
|
|
|
26.5
|
|
Depreciation and amortization
|
|
4.2
|
|
|
4.0
|
|
Rentals
|
|
0.4
|
|
|
0.4
|
|
Interest and debt expense, net
|
|
1.1
|
|
|
1.0
|
|
Gain on disposal of assets
|
|
—
|
|
|
—
|
|
|
|
|
|
|
||
Income before income taxes and income on and equity in earnings of joint ventures
|
|
7.2
|
|
|
8.0
|
|
Income taxes
|
|
2.6
|
|
|
2.8
|
|
Income on and equity in earnings of joint ventures
|
|
—
|
|
|
—
|
|
|
|
|
|
|
||
Net income
|
|
4.7
|
%
|
|
5.2
|
%
|
|
|
Three Months Ended
|
|
|
||||||||
(in thousands of dollars)
|
|
April 29,
2017 |
|
April 30,
2016 |
|
$ Change
|
||||||
Net sales:
|
|
|
|
|
|
|
|
|
|
|||
Retail operations segment
|
|
$
|
1,385,520
|
|
|
$
|
1,449,389
|
|
|
$
|
(63,869
|
)
|
Construction segment
|
|
32,591
|
|
|
53,853
|
|
|
(21,262
|
)
|
|||
Total net sales
|
|
$
|
1,418,111
|
|
|
$
|
1,503,242
|
|
|
$
|
(85,131
|
)
|
|
|
% Change
2017-2016
|
|
% of
Net Sales
|
||
Retail operations segment
|
|
|
|
|
|
|
Cosmetics
|
|
(10.3
|
)%
|
|
14
|
%
|
Ladies’ apparel
|
|
0.3
|
|
|
25
|
|
Ladies’ accessories and lingerie
|
|
(7.4
|
)
|
|
14
|
|
Juniors’ and children’s apparel
|
|
(2.0
|
)
|
|
10
|
|
Men’s apparel and accessories
|
|
(4.2
|
)
|
|
16
|
|
Shoes
|
|
(3.8
|
)
|
|
16
|
|
Home and furniture
|
|
(10.0
|
)
|
|
3
|
|
|
|
|
|
|
98
|
|
Construction segment
|
|
(39.5
|
)
|
|
2
|
|
Total
|
|
|
|
|
100
|
%
|
|
|
Three Months Ended
|
|
|
|
||||||||
(in thousands of dollars)
|
|
April 29, 2017
|
|
April 30, 2016
|
|
$ Change
|
|
||||||
Service charges and other income:
|
|
|
|
|
|
|
|
|
|
|
|||
Retail operations segment
|
|
|
|
|
|
|
|
|
|
|
|||
Income from Wells Fargo Alliance
|
|
$
|
22,151
|
|
|
$
|
23,865
|
|
|
$
|
(1,714
|
)
|
|
Shipping and handling income
|
|
7,512
|
|
|
6,463
|
|
|
1,049
|
|
|
|||
Leased department income
|
|
1,432
|
|
|
1,577
|
|
|
(145
|
)
|
|
|||
Other
|
|
3,577
|
|
|
3,612
|
|
|
(35
|
)
|
|
|||
|
|
34,672
|
|
|
35,517
|
|
|
(845
|
)
|
|
|||
Construction segment
|
|
91
|
|
|
38
|
|
|
53
|
|
|
|||
Total service charges and other income
|
|
$
|
34,763
|
|
|
$
|
35,555
|
|
|
$
|
(792
|
)
|
|
|
|
Three Months Ended
|
|
|
|
|
|||||||||
(in thousands of dollars)
|
|
April 29, 2017
|
|
April 30, 2016
|
|
$ Change
|
|
% Change
|
|||||||
Gross profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Retail operations segment
|
|
$
|
546,500
|
|
|
$
|
562,181
|
|
|
$
|
(15,681
|
)
|
|
(2.8
|
)%
|
Construction segment
|
|
1,526
|
|
|
2,482
|
|
|
(956
|
)
|
|
(38.5
|
)
|
|||
Total gross profit
|
|
$
|
548,026
|
|
|
$
|
564,663
|
|
|
$
|
(16,637
|
)
|
|
(2.9
|
)%
|
|
|
Three Months Ended
|
||||
|
|
April 29, 2017
|
|
April 30, 2016
|
||
Gross profit as a percentage of segment
net sales:
|
|
|
|
|
|
|
Retail operations segment
|
|
39.4
|
%
|
|
38.8
|
%
|
Construction segment
|
|
4.7
|
|
|
4.6
|
|
Total gross profit as a percentage of net sales
|
|
38.6
|
|
|
37.6
|
|
|
|
Three Months Ended
|
|
|
|
|
|||||||||
(in thousands of dollars)
|
|
April 29, 2017
|
|
April 30, 2016
|
|
$ Change
|
|
% Change
|
|||||||
SG&A:
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Retail operations segment
|
|
$
|
397,099
|
|
|
$
|
396,827
|
|
|
$
|
272
|
|
|
0.1
|
%
|
Construction segment
|
|
1,353
|
|
|
1,517
|
|
|
(164
|
)
|
|
(10.8
|
)
|
|||
Total SG&A
|
|
$
|
398,452
|
|
|
$
|
398,344
|
|
|
$
|
108
|
|
|
—
|
%
|
|
|
Three Months Ended
|
||||
|
|
April 29, 2017
|
|
April 30, 2016
|
||
SG&A as a percentage of segment net sales:
|
|
|
|
|
|
|
Retail operations segment
|
|
28.7
|
%
|
|
27.4
|
%
|
Construction segment
|
|
4.2
|
|
|
2.8
|
|
Total SG&A as a percentage of net sales
|
|
28.1
|
|
|
26.5
|
|
|
|
Three Months Ended
|
|
|
|
|
|||||||||
(in thousands of dollars)
|
|
April 29, 2017
|
|
April 30, 2016
|
|
$ Change
|
|
% Change
|
|||||||
Depreciation and amortization:
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Retail operations segment
|
|
$
|
59,843
|
|
|
$
|
60,476
|
|
|
$
|
(633
|
)
|
|
(1.0
|
)%
|
Construction segment
|
|
168
|
|
|
169
|
|
|
(1
|
)
|
|
(0.6
|
)
|
|||
Total depreciation and amortization
|
|
$
|
60,011
|
|
|
$
|
60,645
|
|
|
$
|
(634
|
)
|
|
(1.0
|
)%
|
|
|
Three Months Ended
|
|
|
|
|
|||||||||
(in thousands of dollars)
|
|
April 29, 2017
|
|
April 30, 2016
|
|
$ Change
|
|
% Change
|
|||||||
Interest and debt expense (income), net:
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Retail operations segment
|
|
$
|
15,703
|
|
|
$
|
15,730
|
|
|
$
|
(27
|
)
|
|
(0.2
|
)%
|
Construction segment
|
|
(21
|
)
|
|
(16
|
)
|
|
(5
|
)
|
|
(31.3
|
)
|
|||
Total interest and debt expense, net
|
|
$
|
15,682
|
|
|
$
|
15,714
|
|
|
$
|
(32
|
)
|
|
(0.2
|
)%
|
|
|
Three Months Ended
|
|
|
||||||||
(in thousands of dollars)
|
|
April 29, 2017
|
|
April 30, 2016
|
|
$ Change
|
||||||
Operating Activities
|
|
$
|
77,441
|
|
|
$
|
20,176
|
|
|
$
|
57,265
|
|
Investing Activities
|
|
(32,254
|
)
|
|
(17,574
|
)
|
|
(14,680
|
)
|
|||
Financing Activities
|
|
(90,691
|
)
|
|
(55,161
|
)
|
|
(35,530
|
)
|
|||
Total Cash Used
|
|
$
|
(45,504
|
)
|
|
$
|
(52,559
|
)
|
|
$
|
7,055
|
|
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
|
|
||
January 29, 2017 through February 25, 2017
|
|
667,971
|
|
|
$
|
56.86
|
|
|
667,971
|
|
|
$
|
215,844,665
|
|
February 26, 2017 through April 1, 2017
|
|
489,596
|
|
|
51.38
|
|
|
489,596
|
|
|
190,689,631
|
|
||
April 2, 2017 through April 29, 2017
|
|
536,658
|
|
|
52.17
|
|
|
536,658
|
|
|
162,693,777
|
|
||
Total
|
|
1,694,225
|
|
|
$
|
53.79
|
|
|
1,694,225
|
|
|
$
|
162,693,777
|
|
Number
|
|
Description
|
|
|
|
10
|
|
Dillard's, Inc. 2005 Non-Employee Director Restricted Stock Plan, as amended.
|
|
|
|
31.1
|
|
Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
|
|
|
|
31.2
|
|
Certification of Co-Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
|
|
|
|
31.3
|
|
Certification of Co-Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
|
|
|
|
32.1
|
|
Certification of Chief Executive Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. 1350).
|
|
|
|
32.2
|
|
Certification of Co-Principal Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. 1350).
|
|
|
|
32.3
|
|
Certification of Co-Principal Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. 1350).
|
|
|
|
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:
|
June 6, 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.
|
I have reviewed this quarterly report on Form 10-Q of Dillard’s, Inc.;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
Date:
|
June 6, 2017
|
|
|
|
|
|
|
/s/ William Dillard, II
|
|
|
William Dillard, II
|
|
|
Chairman of the Board and Chief Executive Officer
|
1.
|
I have reviewed this quarterly report on Form 10-Q of Dillard’s, Inc.;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
Date:
|
June 6, 2017
|
|
|
|
|
|
|
/s/ Phillip R. Watts
|
|
|
Phillip R. Watts
|
|
|
Senior Vice President, Co-Principal Financial Officer and Principal Accounting Officer
|
1.
|
I have reviewed this quarterly report on Form 10-Q of Dillard’s, Inc.;
|
2.
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
|
3.
|
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
|
4.
|
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
|
5.
|
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
|
Date:
|
June 6, 2017
|
|
|
|
|
|
|
/s/ Chris B. Johnson
|
|
|
Chris B. Johnson
|
|
|
Senior Vice President and Co-Principal Financial Officer
|
Date:
|
June 6, 2017
|
|
|
|
|
|
|
/s/ William Dillard, II
|
|
|
William Dillard, II
|
|
|
Chairman of the Board and
Chief Executive Officer
|
Date:
|
June 6, 2017
|
|
|
|
|
|
|
/s/ Phillip R. Watts
|
|
|
Phillip R. Watts
|
|
|
Senior Vice President, Co-Principal Financial Officer and Principal Accounting Officer
|
Date:
|
June 6, 2017
|
|
|
|
|
|
|
/s/ Chris B. Johnson
|
|
|
Chris B. Johnson
|
|
|
Senior Vice President and Co-Principal Financial Officer
|