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Ed Johnson
Ed Johnson, Consultant
Category: OB GYN
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Experience:  Master's Degree candidate waiting on research paper; BS Uni S. Colorado, summa cum laude; AA Degree
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IS DILLARDS DEPARTMENT STORES CLOSING 81 STORES

Customer Question

IS DILLARDS DEPARTMENT STORES CLOSING 81 STORES?
Submitted: 7 years ago.
Category: General
Expert:  Ed Johnson replied 7 years ago.

Dear Alexandria,

 

There are rumors in the news that Dillard's is closing store. Dillard's announced in July that they were closing under performing stores. The exact number was not given. It could be 81, more or less.

 

(per company spokeswoman Julie J. Bull) as quoted in the New York Times.

 

For now, as of August 4th, only 13 were officially named. You can see them here: http://www.arkansasbusiness.com/news/print_editions/ab_Dillards_Closed_stores_08.pdf

 

They are also closing a distribution center in Kentucky that will result in a loss of 89 jobs.

 

the 81 store closure figure you have includes stores that have already closed since the beginning of the year. they actually announced the plans that were already underway on May 19th, that they were going to close under performing stores. The exact number was never mentioned, but is expected to be wide spread.

 

Dillard's has stores in 29 states, so it only takes 4 stores in each state to bring the total over 80. AND most states are starting to announce closures.

 

The CEO in the 2008 stock holders meeting stated: "CEO William Dillard II said the company will close another six under performing stores this year (meaning 2008). They have already exceeded that number.

 

While some news stories may have reported 81 store closings, that number is XXXXX accurate at this time. (officially announced).

 

If you look at the quarterly and annual reports including the announcements I gave you at one link, we can only count 39 closures to date, but more are planned. A firm number is XXXXX normally given, because they are based on performance. And that may not be known until the end of the next quarter in September.

 

 

 

 

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