The performance of the large eddy simulation (LES) approach in predicting the evolution of a shear layer in the presence of stratification is evaluated. The LES uses a dynamic procedure to compute subgrid model coefficients based on filtered velocity and density fields. Two simulations at different Reynolds numbers are simulated on the same computational grid. The fine LES simulated at a low Reynolds number produces excellent agreement with direct numerical simulations (DNS): the linear evolution of momentum thickness and bulk Richardson number followed by an asymptotic approach to constant values is correctly represented and the evolution of the integrated turbulent kinetic energy budget is well captured. The model coefficients computed from the velocity and the density fields are similar and have a value in range of $0.01-0.02$. The coarse LES simulated at a higher Reynolds number Re = 50,000 shows acceptable results in terms of the bulk characteristics of the shear layer, such as momentum thickness and bulk Richardson number. Analysis of the turbulent budgets shows that, while the subgrid stress is able to remove sufficient energy from the resolved velocity fields, the subgrid scalar flux and thereby the subgrid scalar dissipation are underestimated by the model.