Interior of a now-relocated Dillard's store, at Four Seasons Town Centre, Greensboro, North Carolina In 1969, Dillard and his investors took Dillard Department Stores, Inc., public on the American Stock Exchange. Dillard used this as an opportunity to relocate his headquarters to Little Rock. 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. In 1960, Dillard acquired and turned around the failing Brown-Duncan store in Tulsa, Oklahoma. 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. In 1956, Dillard led an investment group that acquired the Mayer & Schmidt store in Tyler, Texas. 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. The building that housed the original store was torn down in the early 2000s. It was located across the street from the community's Methodist church. ĭillard began his first store in Mineral Springs, Arkansas, in what was locally known as "the tater house". The family retains control of the company through its ownership of Class B Common Stock the Class A common stock is publicly traded on the New York Stock Exchange. 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. Operations during 20th century Early history ĭillard's is the outgrowth of a department store founded in 1938 by William T. The company also has stores in 27 more states however, it is absent from the Northeast (Washington, D.C., and northward), most of the Upper Midwest ( Michigan, Wisconsin, Minnesota), the Northwest, and most of California, aside from three stores. Currently, the largest number of stores are located in Texas with 57 and Florida with 42. is an upscale American department store chain with approximately 282 stores in 29 states and headquartered in Little Rock, Arkansas. We are optimistic increased vaccinations, warmer weather and fresh fashions will motivate Americans to shop this spring.Dillard's, Inc. “Our team’s ability to adjust to the changing circumstances throughout made us proud. Dillard II expresses optimism regarding the country’s economic future and his company’s ability to weather these challenges. The company announced its strategy of reducing inventory and expenses and preserving liquidity. Dillard’s ended the year with $360 million in cash and inventory levels down 26%.ĬEO William T. Health and safety concerns continue to impact in-store pedestrian foot traffic, though there have been some encouraging signs of a rebound.ĭillard’s recently-released 4th quarter financial report outlined the challenges of doing business in the world of COVID. The brick-and-mortar format has been further complicated by COVID-19. Critics additionally cite the retailer’s need for a more comprehensive and engaging e-commerce experience. A number of analysts doubt that brick-and-mortar department stores, with their collection of cosmetics, clothing, and, comforters all under one roof, have a future. ASSOCIATED PRESSĭillard’s has recently been criticized for its commitment to the traditional department store format. The Dillard's at Colorado's Park Meadows Mall on December 8, 2020. Holmes in New Orleans, were willing and eager to sell and helped Dillard’s quickly expand into new markets. Louis, Higbees in Cleveland, Ivey’s in Charlotte, and D.H. Businesses such as Stix, Baer & Fuller in St. By 1990, Dillard’s added 120 locations to its store count. The retailer took advantage of companies that were caught up in the industry’s merger and leveraged buyout frenzies. Starting in the mid 1980s, Dillard’s went on a large buying spree. ![]() Dillard’s clearance center format helps extend an individual location’s limited lifespan and allows the retailer to sell off overstock and past season merchandise on its own terms. But Macy’s M, Belk, and others tend to lean toward mass closures of their underperforming properties. Michael Lisickyĭillard’s regularly analyzes each store “to determine the highest and best use of each location.” That’s standard practice with most retailers. ![]() the store was fully converted to a Clearance Center and closed in early 1998. Dillard's acquired Tampa's Belk-Lindsey store at the troubled Eastlake Square Mall in 1992.
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