Dillard’s CEO Says Family’s Retail Chain Is A Survivor

Department store retail is a business in transition and barely a month goes by without news of store closures leaving shopping malls with empty space. This year through Nov. 17, there were 6,700 store closure announcements, surpassing the 2008 record of  6,163, according to Deborah Weinswig of Fung Global Retail & Technology.

The major reasons cited for the closures include declining mall traffic, reconfiguration of store networks as more sales move online and trying to cut losses from unprofitable stores.

Little Rock-based Dillard’s is not among the chains announcing numerous store closures. Dillard’s operates 268 stores and 25 clearance centers in 29 states and an internet store. As of Jan. 31, Dillard’s owned 245 of its stores. Last year the company’s total sales revenue was $6.256 billion, down 5% from the previous year. Through nine months of 2017 sales revenue was $4.2 billion, down from $4.321 billion in the year-ago period.   MORE

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