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|Traded as|| NYSE: DDS (Class A)|
S&P 400 Component
|Founder||William T. Dillard|
|Headquarters||Little Rock, Arkansas, U.S.|
Number of locations
|292 (February 2018)|
|Products||Clothing, footwear, bedding, furniture, jewelry, beauty products, and housewares.|
Number of employees
|~40,000 (February 2018)|
Dillard's Inc. is an American department store chain with approximately 292 stores in 29 states headquartered in Little Rock, Arkansas.Currently, the largest number of stores are located in Florida with 42 and Texas with 57, but the company also has stores in 27 more states although it is absent from the Northeast (Washington DC northward), most of the Upper Midwest (no Michigan, Chicago, Wisconsin, or Minnesota stores), the Northwest, and most of California, aside from three stores in smaller cities.
A department store is a retail establishment offering a wide range of consumer goods in different product categories known as "departments". In modern major cities, the department store made a dramatic appearance in the middle of the 19th century, and permanently reshaped shopping habits, and the definition of service and luxury. Similar developments were under way in London, in Paris and in New York.
Little Rock is the capital and most populous city of the U.S. state of Arkansas. It is also the county seat of Pulaski County. It was incorporated on November 7, 1831, on the south bank of the Arkansas River close to the state's geographic center. The city derives its name from a rock formation along the river, named the "Little Rock" by the French explorer Jean-Baptiste Bénard de la Harpe in the 1720s. The capital of the Arkansas Territory was moved to Little Rock from Arkansas Post in 1821. The city's population was 198,541 in 2016 according to the United States Census Bureau. The six-county Little Rock-North Little Rock-Conway, AR Metropolitan Statistical Area (MSA) is ranked 78th in terms of population in the United States with 738,344 residents according to the 2017 estimate by the United States Census Bureau.
Florida is the southernmost contiguous state in the United States. The state is bordered to the west by the Gulf of Mexico, to the northwest by Alabama, to the north by Georgia, to the east by the Atlantic Ocean, and to the south by the Straits of Florida. Florida is the 22nd-most extensive, the 3rd-most populous, and the 8th-most densely populated of the U.S. states. Jacksonville is the most populous municipality in the state and the largest city by area in the contiguous United States. The Miami metropolitan area is Florida's most populous urban area. Tallahassee is the state's capital.
Dillard's is the outgrowth of a department store founded in 1938 by William T. Dillard; its corporate headquarters remain located at the eastern edge of Little Rock's Riverdale area, and many of its executives and directors are members of the Dillard family. The family still controls the company through its ownership of Class B Common Stock; the Class A common stock is publicly traded on the New York Stock Exchange.
William Thomas Dillard was an American businessman. He was the founder of the Dillard's Department Stores chain.
The New York Stock Exchange is an American stock exchange located at 11 Wall Street, Lower Manhattan, New York City, New York. It is by far the world's largest stock exchange by market capitalization of its listed companies at US$30.1 trillion as of February 2018. The average daily trading value was approximately US$169 billion in 2013. The NYSE trading floor is located at 11 Wall Street and is composed of 21 rooms used for the facilitation of trading. A fifth trading room, located at 30 Broad Street, was closed in February 2007. The main building and the 11 Wall Street building were designated National Historic Landmarks in 1978.
Dillard sold the original five and dime store in Nashville, Arkansas, to develop a department store in Texarkana, Arkansas, initially as the minority partner in Wooten & Dillard. In 1956, Dillard led an investment group that acquired the Mayer & Schmidt store in Tyler, Texas. This store eventually took on the name "Dillard's Mayer & Schmidt" until 1974, when it was replaced with a mall-based location south of downtown Tyler.
Nashville is a city in Howard County, Arkansas, United States. The population was 4,627 at the 2010 census. The estimated population in 2015 was 4,479. The city is the county seat of Howard County.
Texarkana is a city in Arkansas and the county seat of Miller County. The city is located across the state line from its twin city, Texarkana, Texas. The city was founded at a railroad intersection on December 8, 1873, and was incorporated in Arkansas on August 10, 1880. Texarkana is the principal city of the Texarkana metropolitan area, which is ranked 274th in terms of population in the United States with 150,098 in 2016 according to the United States Census Bureau.
Tyler is the county seat of Smith County, located in east-central Texas, United States. The city of Tyler has long been Smith County's major economic, educational, financial, medical, and cultural hub. The city is named for John Tyler, the tenth President of the United States. Tyler had a population of 96,900 in 2010, according to the United States Census Bureau, and Tyler's 2017 estimated population was 104,991. It is 100 miles (160 km) east-southeast of Dallas. Tyler is the principal city of the Tyler Metropolitan Statistical Area, which had a population of 209,714 in 2010, and is the regional center of the Tyler-Jacksonville combined statistical area, which had a population of 260,559 in 2010.
In 1960, Dillard acquired and turned around the failing Brown-Duncan store in Tulsa, Oklahoma. The success of this turnaround was followed in late 1963 by acquiring the Joseph Pfeifer store in Little Rock, Arkansas, and in early 1964 acquiring the other main store in Little Rock, Gus Blass Co. Dillard used this as an opportunity to relocate his headquarters to Little Rock. In 1969, Dillard and his investors took Dillard Department Stores, Inc., public on the American Stock Exchange.
Tulsa is the second-largest city in the state of Oklahoma and 45th-most populous city in the United States. As of July 2016, the population was 413,505, an increase of 12,591 over that reported in the 2010 Census. It is the principal municipality of the Tulsa Metropolitan Area, a region with 991,005 residents in the MSA and 1,251,172 in the CSA. The city serves as the county seat of Tulsa County, the most densely populated county in Oklahoma, with urban development extending into Osage, Rogers, and Wagoner counties.
Thereafter, the chain expanded rapidly as an anchor in suburban shopping malls, and took advantage of market conditions to acquire smaller chains as well as its ability to turn around locations that other companies could not operate profitably.
A shopping mall is a modern, chiefly North American, term for a form of shopping precinct or shopping center, in which one or more buildings form a complex of shops representing merchandisers with interconnecting walkways that enable customers to walk from unit to unit. A shopping arcade is a specific type of shopping precinct which is usually distinguished in English for mall shopping by the fact that connecting walkways are not owned by a single proprietor and are in open air. Shopping malls in 2017 accounted for 8% of retailing space in the United States.
Expansion of the Dillard's chain increased rapidly during the 1970s, mainly through expanding into new malls being built in smaller cities in Texas. In 1971 five Texas units were acquired from Fedway, a division of Federated Department Stores (the stores were rebadged as Dillard's in 1972). In 1974 five Leonard's stores were acquired in Fort Worth, Texas, as well as a commitment to open a new downtown Fort Worth store at the Tandy Center (site of the original Leonard's). Also in 1974, the former Brown-Dunkin, Blass, Pfeifer and Mayer & Schmidt stores were fully renamed Dillard's.
Fort Worth is a city in the U.S. state of Texas. It is the 15th-largest city in the United States and fifth-largest city in Texas. It is the county seat of Tarrant County, covering nearly 350 square miles (910 km2) into four other counties: Denton, Johnson, Parker, and Wise. According to the 2017 census estimates, Fort Worth's population is 874,168. Fort Worth is the second-largest city in the Dallas–Fort Worth–Arlington metropolitan area, which is the 4th most populous metropolitan area in the United States.
The 1980s brought the purchase of many local chains. In 1982, Dillard's leased three units of the defunct Lowenstein's chain in Memphis, Tennessee. In early 1984, Dillard’s acquired 12 Stix, Baer & Fuller stores in St. Louis and Kansas City from Associated Dry Goods Corp., while in fall 1984 two department store divisions were purchased from Dayton-Hudson Corporation: Diamond's and John A. Brown, with locations in Arizona, Nevada and Oklahoma. Twelve stores in Kansas and Missouri belonging to R. H. Macy & Co.'s Midwest Division, which was later dissolved in 2006, were acquired in early 1986, while the three-unit Hemphill-Wells company in West Texas was purchased in the summer. The stores at Sunset Mall in San Angelo and South Plains Mall in Lubbock were both converted, while the third in downtown Lubbock was closed.
In 1987, Dillard's purchased 26 of Joske's 27 stores in Texas and Arizona as well as the four unit Cain-Sloan chain in Nashville, Tennessee, from Allied Stores Corp. This deal gave Dillard's two major anchor locations at several malls in Texas and Arizona with many of the second locations being converted to a separate, expanded home and men's stores, a format that Dillard's utilized greatly, both to grow its store size cost effectively and to prevent competitors from gaining valuable real estate. Additionally the Joske's acquisition gave Dillard's entry into the Houston market.
Dillard's in 1988 acquired the former Selber Bros. clothing department store chain, founded in 1907 in Shreveport, Louisiana, which also had a few locations in Texas.
In 1988, Dillard's purchased the three-unit Miller & Paine chain in Lincoln, Nebraska, as well as more significantly, a half-interest and operational control of The Higbee Co., based in Cleveland, Ohio, with partner Edward J. DeBartolo Corp. D. H. Holmes Co., Ltd., of New Orleans, was purchased in 1989, bringing 18 units primarily in Louisiana, as well two former Diamond's units in Tucson, Arizona.
The Ivey's chain of 23 stores in Florida, North Carolina and South Carolina was acquired from BATUS in 1990. This was followed by the acquisition of eight Florida Gulf Coast stores from Maison Blanche Co. in 1991 (which had acquired them as Robinsons of Florida only a few years before). In 1992, the remaining interest in the Higbee's stores were acquired, as well as five Ohio stores from Horne's (as part of a legal settlement, Dillard's having canceled a 1988 deal to acquire the chain). Also in 1992, three stores from the Hess's chain liquidation (five other former Hess's were acquired in 1994), two E.M. Scarbrough's locations in Austin, Texas, two Thalhimer's in South Carolina and Tennessee, a former Lord & Taylor store in Memphis, Tennessee and three Belk-Lindsey stores in Florida were acquired by Dillard's in 1996. Except for two Belk of Columbia stores that were acquired in 1995, acquisitions were eschewed for a couple of years until early 1997 when ten buildings in Florida were sold from Mervyn's, which left the area to better focus on its core markets. The locations bought by Dillard's were at Cutler Ridge Mall, Miami International Mall, Pembroke Lakes Mall, Broward Mall, Coral Square, Pompano Fashion Square, Boynton Beach Mall, Treasure Coast Square, Melbourne Square, and Lakeland Square Mall although two of them weren't reopened by the company. As this happened, Dillard's started operating two stores at three of these locations and an empty store at the Town Center Mall was not included in the deal although the retailer wanted to open there. At the same time, five southern Virginia stores were purchased from Proffitt's (which had acquired them from Hess's in 1993) at Pembroke Mall, Coliseum Mall, Greenbrier Mall, Patrick Henry Mall, and Chesapeake Square where as the suburban Macy's stores in Houston at Baybrook Mall, Willowbrook Mall, and Deerbrook Mall were absorbed while the location at The Galleria was not affected.
The deal-making culminated with the purchase of Mercantile Stores Co., Inc., in 1998. The purchase of this Fairfield, Ohio-based department store company brought several chains, including Bacon's, Castner Knott, de Lendrecie's, Gayfers, Glass Block, Hennessy's, J.B. White, Joslins, Lion Store, Maison Blanche, McAlpin's, Root's and The Jones Store. Dillard's sold 26 stores of the former Mercantile Stores to May Department Stores Co. and Saks Incorporated and traded an additional seven stores to Belk for nine of theirs in southern Virginia and Chattanooga, Tennessee. Overall this deal enabled Dillard's to enhance its position in several markets in the South, Midwest and Mountain states.
Also in 1998, the chain entered California, opening its first store in a former Weinstock's at Weberstown Mall in Stockton, California.In 1999, Dillard's opened stores at Mall of Georgia and Arbor Place Mall near Atlanta, Georgia.
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 GE Money Bank. Customers can now be issued Dillard's/American Express cards as well the traditional Dillard's store charge. These cards can be used at any store that accepts the American Express brand.
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.Also in 2008, stores opened at both The Shops at Wiregrass and Pier Park in Florida. As of Tuesday December 4, 2018 Dillard’s has recently announced a brand new location coming in fall 2019 to Sioux Falls, SD to the former Younkers in Empire Mall.
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 (33,000 m²) is located at Scottsdale Fashion Square, an enclosed super-regional mall in Scottsdale, Arizona. Within the Dallas/Fort Worth area, the chain has two flagship stores with a 299,000-square-foot (27,800 m2) store at the Northpark Center in Dallas and a 310,000-square-foot (29,000 m2) store at the North East Mall in Hurst. Its flagship store in the East Coast region, at 260,000 square feet (24,000 m2), is located in the MacArthur Center in downtown Norfolk, Virginia. The home store for the chain is in Little Rock; the divided store is located in the trend-conscious Park Plaza Mall, one of the city's oldest continuously operating shopping centers in its midtown section.
Dillard’s Clearance Centers occupy 26 mall spaces throughout multiple states for the clearance stock of clothing from prior seasons.They are usually located within run-down malls or in sketchy 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 60% off to these Clearance Centers where the clothing is then marked down further to liquidate the heaps of clothing and shoes. 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. 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 12pm to 7pm and Sunday 12pm to 6pm. On Mondays, the Clearance Centers are closed for restocking of the Clearance items.
On a week-to-week basis, each Dillard’s Clearance Center receives further mark downs by each department, i. e. Ladies’ Shirts and Men’s Pants could be an extra 50% off the already reduced 60% off merchandise making the total be around 80% off the original market value.
Parisian Inc. was a U.S. chain of department stores founded and headquartered in Birmingham, Alabama. Competing mainly in the established Southeastern US market through the 1980s against Nordstrom, Neiman Marcus and Gus Mayer, Parisian underwent a series of restructurings and mergers during its 130-year history, and was taken over by Saks Incorporated in 1998. In September 2006, Belk purchased the Parisian department store properties from Saks for $285 million, although that sale did not include the Parisian nameplate. Belk quickly resold five Parisian store locations in Michigan, Indiana and Ohio to Bon-Ton Stores, and closed a handful of additional stores nationwide. The remaining Parisian locations were rebranded as Belk in September 2007, except for the three Michigan stores, which continued to operate as Parisian until 2013.
Metrocenter Mall is a defunct shopping mall in South Jackson, Mississippi. The largest enclosed shopping mall in Mississippi, it is composed of 1,250,000 square feet of retail space on two levels, including four anchor spaces. Regional real estate developer Jim Wilson & Associates built the mall in Mississippi's capital city in 1978, as one of its portfolio of properties throughout the southeastern United States. Key tenants as of 2014 include one of two Burlington Coat Factory stores in the state, and offices of the City of Jackson. The mall is located near the junction of Interstates 20 and 220, along South Jackson's U.S. Highway 80 corridor. After years of ownership by Cannon Management and Jackson Metrocenter Limited, a decade-long decline at the mall led to a foreclosure in November 2012, and subsequent sale to Metrocenter Mall, LLC.
Four Seasons Town Centre is a three-story shopping mall in Greensboro, North Carolina. Opened in 1974, it was the first enclosed shopping center in Greensboro. Currently it is anchored by Dillard's and J. C. Penney and it is the only indoor shopping mall within Greensboro's city limits; however, nearby Friendly Center, an outdoor shopping plaza, has many of the same tenants. It is managed by Brookfield Properties Retail Group. The shopping mall is located at the I-40 interchange with Gate City Boulevard, southwest of downtown.
Belk, Inc., is an American department store chain founded in 1888 by William Henry Belk in Monroe, North Carolina, with 300 locations in 16 states. Belk stores and Belk.com offer apparel, shoes, accessories, cosmetics, home furnishings and wedding registry.
Proffitt's was a department store chain based in Alcoa, Tennessee. On March 8, 2006, the Proffitt's and McRae's stores were converted into Belk stores. Belk acquired the two chains in July 2005 from Saks, Inc.
McRae's was a mid-range regional department store chain founded and based in Jackson, Mississippi, with locations in Mississippi, Alabama, Louisiana, and Florida. The nameplate was in existence for more than a century.
Hamilton Place is an enclosed, two-story shopping mall in Chattanooga, Tennessee just off I-75. It was the largest shopping mall in the state of Tennessee from 1987 to 1998; at this time, it was superseded in size by Knoxville's West Town Mall. Hamilton Place is considered a sister property to Northgate Mall, located in nearby Hixson.
Castner Knott Company was a Nashville, Tennessee-based regional department store chain which operated stores in Kentucky and Alabama, along with Tennessee. The chain was in business for a century from 1898 to 1998, in its later years as a division of Mercantile Stores Company.
Associated Dry Goods (ADG) was a chain of department stores that merged with May Department Stores in 1986. It was founded in 1916 as an association of independent stores called American Dry Goods, based in New York City.
Volusia Mall is a super-regional shopping mall located in Daytona Beach, Florida. It is the largest retail shopping center in the Volusia-Flagler market. Opened on October 15, 1974, the mall comprises more than 120 stores on one level, as well as a food court. Anchor stores are JCPenney, Macy's, Sears, and three Dillard's locations. The mall is owned and managed by CBL & Associates Properties.
Joske's, founded by German immigrant Julius Joske in 1867, was a department store chain originally based in San Antonio, Texas. In December 1928, Hahn Department Stores acquired the company along with the Titche-Goettinger department store of Dallas, and three years later Hahn became part of Allied Stores. Allied was taken over by Campeau in 1986, and Campeau in turn sold the Joske's chain in 1987 to Dillard's. All Joske's stores were then quickly converted into Dillard's locations.
Stage Stores is a department store company specializing in retailing brand name apparel, accessories, cosmetics, footwear, and housewares throughout the United States. The corporate office is located in Houston, Texas.
Citadel Mall is a regional 1,138,527 square feet (105,773 m2) shopping mall located in Charleston, South Carolina, United States. It opened on July 29, 1981 and is located at the intersection of Sam Rittenberg Boulevard and I-526. The mall features more than 100 stores, including six anchor stores: the area's largest Belk and Dillard's department stores, Dick's Sporting Goods, and the region's first Target that was recently remodeled to include a new "Fresh Grocery" section. On September 1, 2013 the mall went into foreclosure after then owner CBL & Associates Properties defaulted on mortgage payments and it was purchased at auction by the lender in January 2014. After the auction, the mall was placed under the ownership of a holding company formed by the lender, 2070 Sam Rittenberg Boulevard Holdings LLC and as of January 2017 was under contract to be sold to an undisclosed buyer.
Springdale Mall is a shopping center located in Mobile, Alabama, United States, directly across from Bel Air Mall. Opened in 1959 as an open-air shopping center, Springdale Mall was later redeveloped as an enclosed shopping center. Facing competition from larger shopping centers in the area, Springdale was demolished in stages in the 2000s, with most of the former enclosed mall being replaced with big box stores.
Parkway Place is an upscale shopping mall in Huntsville, Alabama that opened on October 16, 2002. Parkway Place is located at the site of the older Parkway City Mall, which was torn down to allow for the construction of the newer facility. The mall is located at the intersection of Memorial Parkway and Drake Avenue. With a total of 643,135 square feet (59,749.2 m2) and 70 in-line stores, Parkway Place is anchored by Dillard's and Belk. The mall is now the only indoor shopping mall in Huntsville after Madison Square Mall closed in early 2017.
The Shoppes at Bel Air, formerly Bel Air Mall, is a super-regional shopping mall, located in Mobile, Alabama, United States. The mall has a gross leasable area of 1,345,000 square feet. It is the oldest continuously operating enclosed super-regional mall in Alabama and serves as one of the primary retail venues for the west Mobile shopping district located at the vicinity of Airport Boulevard and Interstate 65. Currently, Belk, Dillard's, JCPenney, and Target serve as the mall's anchor stores; the mall also features more than 130 stores and restaurants.
The Centre of Tallahassee, formerly Tallahassee Mall, is a local semi-enclosed shopping center and entertainment venue located at the intersection of North Monroe Street and John Knox Road in Tallahassee, Florida. Since the official close of the faltering Northwood Mall in 1986, The Tallahassee Mall became the older of two surviving enclosed malls in the Tallahassee area, the other being Governor's Square.
Regency Square Mall is an enclosed shopping mall in Jacksonville, Florida, United States. Opened in 1967 and once one of the most successful malls in the country, the mall now features around 20 stores, including two anchor stores, Dillard's Clearance Center and JCPenney, Impact Church, and a food court. It is owned by Namdar Realty Group and Mason Asset Management. A vacant wing of the mall is being transformed into storefronts for International Decor Outlet.
Walnut Square Mall is a shopping mall located in Dalton, Georgia. Opened in 1980, the mall features more than 75 inline tenants, as well as two Belk locations as anchor stores. The mall is managed by Hull Property Group.
Colonial Plaza is a shopping center in Orlando, Florida, United States. Opened in 1956, it was the largest retail development in the state of Florida at the time of its construction. The original complex included two supermarkets and two variety stores, plus a Belk department store. It also underwent multiple expansions in its history, the first of which added a Jordan Marsh department store and an enclosed mall concourse. Further expansion in 1973 added a second enclosed wing and a relocation of Belk, while Ivey's was added in 1983 and sold to Dillard's in 1990.
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