After Dillard’s Inc. reported flat first-quarter sales and earnings last week, Chairman and CEO William Dillard II told shareholders over the weekend that the Arkansas department store will emerge stronger through a difficult period for traditional brick-and-mortar retailers.

“Mall-based retailing is going through a difficult time,” Dillard said at the company’s annual meeting Saturday in Little Rock. “Our job is to be open next year. We’re going to be one of the leaders and still get to play tomorrow.”

According to an 8K filing with the federal Securities and Exchange Commission detailing Mr. Dillard’s remarks, the Arkansas department store chain’s annual meeting was highlighted by the company’s celebration of 50 years as a publicly-traded concern. During the event, the namesake CEO of the Arkansas retailer touted the company’s financial strength by citing the paydown of $248 million of long-term debt since January 2018 and the repurchase of 1.7 million shares over the past year.    MORE