DDT Dillards Capital Trust I

Exhibit 99.1

Dillard’s, Inc. Reports Third Quarter and Year-to-Date Results

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LITTLE ROCK, Ark. (GLOBE NEWSWIRE) –November 14, 2024 - Dillard’s, Inc. (NYSE: DDS) (the “Company” or “Dillard’s”) announced operating results for the 13 and 39 weeks ended November 2, 2024. This release contains certain forward-looking statements. Please refer to the Company’s cautionary statements included below under “Forward-Looking Information.”

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Dillard’s Chief Executive Officer William T. Dillard, II stated, “While retail sales declined 4%, we focused on gross margin, reporting a respectable 44.5% of sales, while working on expense control. We reported cash and short-term investments of over $1.1 billion after repurchasing $107 million in stock. We are looking forward to welcoming our customers and serving them this holiday season.”

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Highlights of the Third Quarter (compared to the prior year third quarter):

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Third Quarter Results

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Dillard’s reported net income for the 13 weeks ended November 2, 2024 of $124.6 million, or $7.73 per share, compared to $155.3 million, or $9.49 per share, for the 13 weeks ended October 28, 2023. Included in net income for the 13 weeks ended October 28, 2023 is a pretax gain of $4.0 million ($3.1 million after tax or $0.19 per share) primarily related to the sale of a store property.

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Sales – Third Quarter

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Net sales for the 13 weeks ended November 2, 2024 and October 28, 2023 were $1.427 billion and $1.476 billion, respectively. Net sales includes the operations of the Company’s construction business, CDI Contractors, LLC (“CDI”).

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Total retail sales (which excludes CDI) for the 13 weeks ended November 2, 2024 and October 28, 2023 were $1.356 billion and $1.409 billion, respectively. Total retail sales decreased 4% for the 13-week period ended November 2, 2024 compared to the 13-week period ended October 28, 2023. Sales in comparable stores for that same period decreased 4%. Cosmetics was the strongest performing merchandise category, with the weakest performances noted in juniors’ and children’s apparel and men’s apparel and accessories.

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Gross Margin – Third Quarter

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Consolidated gross margin for the 13 weeks ended November 2, 2024 was 42.6% of sales compared to 43.5% of sales for the 13 weeks ended October 28, 2023.

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Retail gross margin for the 13 weeks ended November 2, 2024 was 44.5% of sales compared to 45.3% of sales for the 13 weeks ended October 28, 2023. Compared to the prior year third quarter, retail gross margin increased slightly in ladies’ accessories and lingerie and was flat in men’s apparel and accessories and cosmetics. Gross margin decreased slightly in shoes and juniors’ and children’s apparel and decreased moderately in home and furniture and ladies’ apparel.

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Inventory increased 3% at November 2, 2024 compared to October 28, 2023. The Company notes a shorter selling period between Thanksgiving and Christmas this year.

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Selling, General & Administrative Expenses – Third Quarter

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Consolidated selling, general and administrative expenses (“operating expenses”) for the 13 weeks ended November 2, 2024 decreased $2.9 million to $418.9 million (29.4% of sales) compared to $421.8 million (28.6% of sales) for the 13 weeks ended October 28, 2023. Compared to the prior year third quarter, payroll expense was flat while insurance benefit expense increased. The Company worked to control expenses during the quarter, and these efforts will continue.

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Highlights of the 39 Weeks (compared to the prior year 39 weeks):

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39-Week Results

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Dillard’s reported net income for the 39 weeks ended November 2, 2024 of $379.1 million, or $23.42 per share, compared to $488.3 million, or $29.38 per share, for the 39 weeks ended October 28, 2023. Included in net income for the 39 weeks ended October 28, 2023 is a pretax gain of $6.0 million ($4.6 million after tax or $0.28 per share) primarily related to the sale of two store properties.

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Sales – 39 Weeks

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Net sales for the 39 weeks ended November 2, 2024 and October 28, 2023 were $4.466 billion and $4.628 billion, respectively.

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Total retail sales for the 39 weeks ended November 2, 2024 and October 28, 2023 were $4.275 billion and $4.423 billion, respectively. Total retail sales decreased 3% for the 39-week period ended

November 2, 2024 compared to the 39-week period ended October 28, 2023. Sales in comparable stores for that same period decreased 4%.

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Gross Margin – 39 Weeks

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Consolidated gross margin for the 39 weeks ended November 2, 2024 was 41.6% of sales compared to 42.0% of sales for the 39 weeks ended October 28, 2023.

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Retail gross margin (which excludes CDI) for the 39 weeks ended November 2, 2024 was 43.3% of sales compared to 43.7% of sales for the 39 weeks ended October 28, 2023.

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Selling, General & Administrative Expenses – 39 Weeks

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Operating expenses for the 39 weeks ended November 2, 2024 were $1,279.2 million (28.6% of sales) compared to $1,240.7 million (26.8% of sales) for the 39 weeks ended October 28, 2023. The increase in operating expenses is primarily due to increased payroll and payroll-related expenses.

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Share Repurchase

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During the 13 weeks ended November 2, 2024 the Company purchased $107.0 million (approximately 294,000 shares) of Class A Common Stock at an average price of $364.43 per share. As of November 2, 2024, authorization of $287.0 million remained under the May 2023 program.

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Total shares outstanding (Class A and Class B Common Stock) at November 2, 2024 and October 28, 2023 were 15.9 million and 16.3 million, respectively.

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Other Information

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The Company operates 273 Dillard’s stores, including 28 clearance centers, spanning 30 states (totaling 46.4 million square feet) and an Internet store at dillards.com.

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Dillard’s, Inc. and Subsidiaries

Condensed Consolidated Statements of Income (Unaudited)

(In Millions, Except Per Share Data)

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Dillard’s, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets (Unaudited)

(In Millions)

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Dillard’s, Inc. and Subsidiaries

Condensed Consolidated Statements of Cash Flows (Unaudited)

(In Millions)

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Estimates for 2024

The Company is providing the following estimates for certain financial statement items for the 52-week period ending February 1, 2025 based upon current conditions. Actual results may differ significantly from these estimates as conditions and factors change - See “Forward-Looking Information.”

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Forward-Looking Information

This report contains certain forward-looking statements. The following are or may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995: (a) statements including words such as “may,” “will,” “could,” “should,” “believe,” “expect,” “future,” “potential,” “anticipate,” “intend,” “plan,” “estimate,” “continue,” or the negative or other variations thereof; (b) statements regarding matters that are not historical facts; and (c) statements about the Company’s future occurrences, plans and objectives, including statements regarding management’s expectations and forecasts for the 52-week period ended February 1, 2025 and beyond, statements concerning the opening of new stores or the closing of existing stores, statements concerning capital expenditures and sources of liquidity and statements concerning estimated taxes. The Company cautions that forward-looking statements contained in this report are based on estimates, projections, beliefs and assumptions of management and information available to management at the time of such statements and are not guarantees of future performance. The Company disclaims any obligation to update or revise any forward-looking statements based on the occurrence of future events, the receipt of new information or otherwise. Forward-looking statements of the Company involve risks and uncertainties and are subject to change based on various important factors. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements made by the Company and its management as a result of a number of risks, uncertainties and assumptions. Representative examples of those factors include (without limitation) general retail industry conditions and macro-economic conditions including inflation, higher interest rates, a potential U.S. Federal government shutdown, economic recession and changes in traffic at malls and shopping centers; economic and weather conditions for regions in which the Company’s stores are located and the effect of these factors on the buying patterns of the Company’s customers, including the effect of changes in prices and availability of oil and natural gas; the availability of and interest rates on consumer credit; the impact of competitive pressures in the department store industry and other retail channels including specialty, off-price, discount and Internet retailers; changes in the Company’s ability to meet labor needs amid nationwide labor shortages and an intense competition for talent; changes in consumer spending patterns, debt levels and their ability to meet credit obligations; high levels of unemployment; changes in tax legislation (including the Inflation Reduction Act of 2022); changes in legislation and governmental regulations, affecting such matters as the cost of employee benefits or credit card income, such as the Consumer Financial Protection Bureau’s recent amendment to Regulation Z to limit the dollar amounts credit card companies can charge for late fees; adequate and stable availability and pricing of materials, production facilities and labor from which the Company sources its merchandise; changes in operating expenses, including employee wages, commission structures and related benefits; system failures or data security breaches; possible future acquisitions of store properties from other department store operators; the continued availability of financing in amounts and at the terms necessary to support the Company’s future business; fluctuations in SOFR and other base borrowing rates; potential disruption from terrorist activity and the effect on ongoing consumer confidence; epidemic, pandemic or public health

issues and their effects on public health, our supply chain, the health and well-being of our employees and customers and the retail industry in general; potential disruption of international trade and supply chain efficiencies; global conflicts (including the ongoing conflicts in the Middle East and Ukraine) and the possible impact on consumer spending patterns and other economic and demographic changes of similar or dissimilar nature, and other risks and uncertainties, including those detailed from time to time in our periodic reports filed with the Securities and Exchange Commission, particularly those set forth under the caption “Item 1A, Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended February 3, 2024.

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