Home / Knowledge / News / Apparel/Garments / Dillard's to close six more stores
Dillard's to close six more stores
20
May '08
Dillard's Inc conducted its annual meeting on Saturday, May 17th in Little Rock, Arkansas. Dillard's Chief Executive Officer, William Dillard, II, presided over the meeting at which all Class A and Class B nominees in the proxy statement dated April 22, 2008 were elected.

Mr. Dillard presented a brief discussion of the 2007 fiscal year results and made reference to the existing challenging macro-economic environment and the resulting effect on discretionary spending.

Mr. Dillard discussed the Company's plan to conservatively navigate the near-term conditions. This plan includes closing underperforming stores, reducing capital expenditures, reducing expenses and executing merchandise improvements.

Mr. Dillard stated that the Company's long-term focus on closing underperforming stores would continue. In 2008 to date, Dillard's has closed three such stores and announced the closure of six more.

Mr. Dillard further stated that due to macro-economic uncertainty, the Company took a dramatic turn with regard to capital expenditures in the fall of 2007. As a result, Dillard's now expects 2008 capital expenditures of $204 million.

The Company currently expects to open only four new stores in 2009. He further stated that cost reduction efforts implemented in the first quarter of 2008 could result in expense savings of approximately $50 million in fiscal 2008.

Mr. Dillard stated that the Company would continue to execute merchandise improvements which include the Company's efforts to offer more upscale products.

Mr. Dillard honored retiring Directors Will D. Davis, John Paul Hammerschmidt and William H. Sutton thanking them for their years of dedicated service to the Company.

Dillard's Inc


Must ReadView All

Textiles | On 24th Jul 2017

Irani terms GST as a ‘great step towards transparency’

Union textiles minister Smriti Irani has termed the Goods and...

L-R: Dhanapal, JMD, Best Corporation; Prabhu Damodaran, Convenor, ITF; Narayanasamy, MD, Micro Cotspin; Senthilnathan, MD Rasitex India; and Sabapathy, MD, Prasanna Spinning Mills

Textiles | On 24th Jul 2017

TN mills seek partnership with cotton growing states

Spinning mills in Tamil Nadu are seeking stronger partnership with...

Textiles | On 24th Jul 2017

TEA urges Tamil Nadu govt to announce textile policy

The Tiruppur Exporters' Association (TEA) has urged the state...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X