Dillard's
This article needs additional citations for verification. (January 2019) |
Products | Clothing, footwear, bedding, bath, furniture, decor, jewelry, accessories, beauty products, appliances, and housewares. |
---|---|
Revenue | US$6.9 billion (2022)[3] |
US$207.962 million (FY 2018)[2] | |
US$170.263 million (FY 2018)[2] | |
Total assets | US$3.431 billion (FY 2018)[2] |
Total equity | US$1.678 billion (FY 2018)[2] |
Number of employees | ~40,000 (December 31, 2020)[2] |
Website | dillards |
Dillard's, Inc. is an
History
20th century
Dillard's is the outgrowth of a department store founded in 1938 by
In 1960, Dillard acquired and turned around the failing Brown-Dunkin store in
The chain then expanded rapidly as an anchor in
In 1971, five Texas units were acquired from Fedway, a division of
In the 1980s, the company purchased many local chains. In 1982, Dillard's leased three units of the defunct Lowenstein's chain in
In 1987, Dillard's purchased 26 of
Dillard's in 1988 acquired the former
In 1988, Dillard's purchased the three-unit
The
Also in 1992, three stores from the
The deal-making culminated with the purchase of
Also in 1998, the chain entered
21st century
This section needs to be updated.(September 2021) |
After the acquisition of Mercantile, Dillard's ceased expanding through acquisitions, although eight locations of the defunct Montgomery Ward in the Midwest, and four locations from ZCMI in Utah and Idaho were acquired in 2001, when stores opened at Chandler Fashion Center in Chandler, Arizona, The Mall at Stonecrest in Lithonia, Georgia, The Mall at Wellington Green in Wellington, Florida, International Plaza and Bay Street in Tampa, Florida, and The Shops at Willow Bend in Plano, Texas.
In 2004, Dillard's store credit card operation, operated as Dillard's National Bank, was sold to
In 2005, Dillard's opened stores at Perimeter Mall and Atlantic Station in Atlanta, Georgia as well as St. Johns Town Center in Jacksonville, Florida.
In 2008, Dillard's closed their travel agency, Dillard's Travel, alongside all in-store locations due to economic conditions. Dillard's Travel previously operated in 43 of the 318 stores.
In late 2018, Dillard's announced a location would open in fall 2019 in
By August 2020, it had not yet opened.[13] In September 2019, Dillard's remained headquartered in Arkansas, with 260 "full-line" stores and 29 clearance centers. It had locations mostly in the South and Southwest of the United States, in 29 states overall. The company was also a significant owner of property in the United States, and it owned 44,300,000 square feet (4,120,000 m2) of the 49,000,000 square feet (4,600,000 m2) it used for its business and retail operations.[14]
In March 2020, Dillard's attracted note in the press for keeping many of its 290 stores open during the coronavirus pandemic,[15][16] with Dillard's stating "we are open with limited hours where not ordered to close by state or local government mandate."[15]
In April 2020, Dillard's closed around 200 out of its 285 stores in response to COVID-19. Its online store remained open.[17] In May 2020, Dillard's had reopened all but two of its locations in Tampa Bay, according to its website at the time.[18] That week, management and Dillard's CEO, William Dillard II, informed its annual meeting that the company's first quarter had been the worst in its history, due to the coronavirus, saying Dillard's business had become "total chaos" by the end of April as a result. At the time, Dillard's had 257 department stores, and 28 clearance stores, and had reopened stores in 21 states or more.[19]
In August 2021, the company released its second quarter report. It did not release "store comps relative to pandemic-dominated 2020; comparable store retail sales compared to 2019 rose 14%." After an $8.6 million net loss in August 2020, the company noted that it instead had made a net income in August 2021 of $185.7 million.[20]
Store formats
The chain continues to expand and has recently added stores in non-traditional mall shopping centers. Currently, the largest Dillard's store at 365,000 square feet (33,900 m2) is located at
Clearance Centers
As of April 2020, Dillard's operated 28 clearance stores in the United States.[19] Dillard's Clearance Centers occupy 26 mall spaces throughout multiple states for the clearance stock of clothing from prior seasons.[22] They are usually located within lower-income areas as the no longer high priced items are not as covetable for the general clientele Dillard's procures. The 265 regular department stores ship the clearance clothing at already 65% off to these Clearance Centers where the clothing is then marked down further to liquidate the heaps of clothing and shoes.[22]
The Clearance Centers rival that of a Marshalls or TJ Maxx with unknown sizes or quantities of a specific item. However, all the clothing at Dillard's Clearance Centers are direct from the normal Dillard's Department Stores close to and surrounding the one outlet. The goods that are sent to these stores are including, but not limited to: overstocked, offseason, didn't sell well, or damaged.[23] This is an easy way to buy all of the brand-specific items at a cheaper, more economical price.
The hours may vary a little bit by store or holiday; however, the generic hours of a Clearance Center are Tuesday through Saturday from 12 pm to 7 pm and Sunday from 12 pm to 6 pm. On Mondays, the Clearance Centers are closed for the restocking of the Clearance items.[24]
On a week-to-week basis, each Dillard's Clearance Center receives further markdowns by each department; older merchandise is marked down to an amount ending in "99 cents," representing a 65% discount.[24]
References
- ^ "Store Locations | Dillard's".
- ^ a b c d e f g "Dillard's, Inc. 2018 Annual Report (Form 10-K)". sec.gov. U.S. Securities and Exchange Commission. February 2019.
- ^ "Dillard's Revenue 2006-2021 | DDS". www.macrotrends.net/. Macro Trends. Retrieved February 10, 2021.
- ^ "Dillard's Investor Relations". Dillard's. Archived from the original on 2007-02-11. Retrieved 2007-03-09.
- ^ "Dillard's Proxy statement".
- ^ Laughlin, Lee (16 July 1986). "Hemphill-Wells, Dep't store chain, bought by Dillard's". Daily News Record. Archived from the original on 24 September 2015. Retrieved 18 November 2013.
- ^ "CDI Contractors, Who We Are".
- ^ "Aaron Selber". The Shreveport Times. Retrieved August 14, 2013.
- ^ Hood, Jeff (20 April 1998). "Dillard's settling in". RecordNet.com. Retrieved 13 January 2014.
- ^ "Dilliard's Closes Travel Agency, To Affect 160 Employees". Archived from the original on 2009-01-14.
- ^ "Dillard's Announces Completion of Acquisition of CDI Contractors LLC".
- ^ Anderson, Patrick (May 20, 2019), Empire Mall: Dillard's set to open in fall, but Younker's space still dark and empty, Argus Leader
- ^ Schwan, Jodi (August 10, 2020), Sioux Falls retail market in 2020: Uncertainty mixed with some signs of life, Sioux Falls Business
- ^ Howland, Daphne (September 9, 2019), The downside of tradition at Dillard's, Retail Dive
- ^ a b Dillard's stores open for shoppers despite COVID-19, Retail Customer Experience, March 27, 2020
- ^ Thomas, Lauren (March 24, 2020), This department store is still open for business despite coronavirus, CNBC
- ^ Dillard's Closing Majority of Stores in Response To Covid-19, Arkansas Money & Politics, April 7, 2020
- ^ DiNatale, Sara (May 12, 2020), Dillard's is reopening stores in Tampa Bay, Tampa Bay Times
- ^ a b Palmieri, Jean (May 17, 2020), Pandemic Caused ‘Total Chaos’ at Dillard's as Stores Were Forced to Close, WWD
- ^ Howland, Daphne (August 12, 2021), Dillard's swings to profit in Q2 as women buy clothing and shoes, Retail Dive
- ^ "Dillard's - Tarrant, TX 76053". USA BIZ DIR. USABIZDIR. Retrieved 18 March 2016.
- ^ a b "NASDAQ".
- ^ "Dillard's in Harlingen to Downgrade to a Clearance Store". The Monitor.
- ^ a b "Store Locator". Dillard's.