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

Uzbekistan, S Korea to launch textile techno park in Sept

Textiles | On 19th Feb 2018

Uzbekistan, S Korea to launch textile techno park in Sept

Uzbekistan and South Korea plan to launch a modern textile techno...

Hyosung to invest Rs 3,000 cr in Maharashtra spandex unit

Textiles | On 19th Feb 2018

Hyosung to invest Rs 3,000 cr in Maharashtra spandex unit

The largest global spandex producer Hyosung Corporation of South...

Courtesy: VF Corporation

Apparel/Garments | On 19th Feb 2018

VF Corp Q4 revenue climbs 20% to $3.6 billion

The revenue of VF Corporation, a global leader in branded lifestyle...

Interviews View All

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Top executives
Textile industry

The foremost issue is bridging the skill gap

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Marcel Alberts
Eurofibers

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

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Yash P. Kotak
Bombay Hemp Company

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

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

February 2018

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

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

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

Yes No

Active Poll

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

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

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

Yes No

Active Poll

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

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

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

Active Poll

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

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


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