The Downside Of Tradition At Dillard’s
Dillard’s, a relatively youthful department store at 81 years old compared to many of its peers founded in the 19th century, is a Southern institution with a support system that includes a loyal customer base, firm family control and a whole lot of real estate. The Arkansas-based company runs 260 full-line stores and 29 clearance centers spanning 29 states, mostly in the South and Southwest. Like rival Nordstrom, Dillard family members (who have the added advantage of control through Class B stock) run the C-suite, with eight in key positions, including chief executive. Like Macy’s and Hudson’s Bay Co., it’s a major property holder, owning some 44.3 million square feet out of the 49 million in its operations, according to its most recent annual report. Read more at Retail Dive.
