Dillard's FY2025 net income falls 3.9% to $570.2M; credit-card income down 27%, offset by special dividend

Filed March 27, 2026 · Period ending January 31, 2026 · Compared to 10-K Mar 28, 2025 · ~1 min read

Key Changes

• high

  Net income declined to $570.2M (/share) despite flat sales of $6.56B, driven by higher SG&A expenses and drop in credit-card alliance income; partially offset by property-sale gain and tax benefit from ESOP dividend deduction.

  MD&A: Net Income & Operating Expenses verify on EDGAR →
• high

  Credit-card alliance income fell from lower receivables and finance charges, continuing multi-year decline ( FY2023 → FY2024 → FY2025); company removed prior disclosure that Citibank program would underperform Wells Fargo Alliance, now emphasizing collaborative improvement efforts.

  MD&A: Credit Card Alliance & Risk Factors verify on EDGAR →
• high

  Board declared record special dividend (up from prior year); total cash returned via dividends and buybacks reached in FY2025.

  MD&A: Capital Allocation verify on EDGAR →