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Exhibit 99 Dillard's , Inc. Reports First Quarter Results LITTLE ROCK , Ark .-- ( BUSINESS WIRE ) -- May 13 , 2021 -- Dillard's , Inc. ( NYSE : DDS ) ( the “ Company ” or “ Dillard's " ) announced operating results for the 13 weeks ended May 1 , 2021. This release contains certain forward - looking statements . Please refer to the Company's cautionary statements included below under " Forward - Looking Information . " Dillard's Chief Executive Officer William T. Dillard , II stated , " There are a lot of good things to say about this quarter . As vaccinations increased , stimulus money was released and warmer weather arrived , we saw sales increase over 2019 levels , with momentum continuing throughout the quarter . We are pleased to report record performances in gross margin and earnings per share . With strong cash flow , we accomplished $ 59 million in share repurchase while still ending the quarter with $ 616 million in cash . " Due to the significant impact of COVID - 19 on prior year figures , this release will include certain comparisons to 2019 to provide additional context . Selected Financial Metrics of the First Quarter ( Compared to the Prior Year First Quarter ) • Total retail sales increased 73 % . • Net income of $ 158.2 million compared to a net loss of $ 162.0 million . Net income of $ 7.25 per share compared to net loss of $ 6.94 per share • Retail gross margin of 42.7 % compared to 12.8 % • • • • Inventory decreased approximately 17 % Operating expenses were $ 336.6 million ( 25.3 % of sales ) compared to $ 290.4 million ( 36.9 % of sales ) . Share repurchases of $ 58.8 million during the quarter Cash flow from operations of $ 302.4 million compared to $ 111.1 million of cash used in operations . Ending cash of $ 616 million compared to $ 70 million First Quarter Results Dillard's reported net income for the 13 weeks ended May 1 , 2021 of $ 158.2 million , or $ 7.25 per share , compared to a net loss of $ 162.0 million , or $ 6.94 per share , for the prior year first quarter . Included in net income for the 13 weeks ended May 1 , 2021 is a pretax gain of $ 24.6 million ( $ 19.2 million after tax or $ 0.88 per share ) primarily related to the sale of three store properties . Sales Net sales for the 13 weeks ended May 1 , 2021 and the 13 weeks ended May 2 , 2020 were $ 1,328.5 million and $ 786.7 million , respectively . Net sales includes the operations of the Company's construction business , CDI Contractors , LLC ( " CDI " ) .