• A department store chain similar to Macy's, but with a stronger focus in the Southern and Western U.S.
• A traditional department store, similar to a slightly less upscale Nordstrom.

• Apparel: Dillard's offers a wide selection of clothing for women, men, and children, including casual wear, formal attire, and activewear.
• Footwear: A diverse range of shoes, boots, and sandals for all ages and occasions is available.
• Accessories: This category includes handbags, jewelry, watches, scarves, belts, and other personal adornments.
• Beauty Products: Customers can find cosmetics, skincare, fragrances, and bath and body products from various brands.
• Home Goods: Dillard's provides items for the home such as bedding, bath linens, kitchenware, small appliances, and decorative accents.

Dillard's (DDS) is a department store chain that sells primarily to individual consumers rather than other companies. Its major customers can be categorized as follows:

• Fashion-Oriented Shoppers: These customers are looking for current styles and reputable brands in apparel, shoes, and accessories across various price points (mid-to-upper-mid market). They seek outfits for everyday wear, professional settings, and special occasions, valuing quality and brand recognition. This category often includes individuals and families who frequent department stores for their diverse selection and consistent availability of national and store-exclusive brands.

• Home & Lifestyle Shoppers: This group comprises customers purchasing items for their homes, including bedding, bath products, kitchenware, small appliances, and home decor. They may be furnishing new spaces, updating existing ones, or seeking practical household items and gifts. This category often aligns with life events such as weddings, housewarmings, and holiday gifting, where Dillard's offers a broad range of merchandise.

• Beauty & Gifting Shoppers: These customers are primarily interested in cosmetics, skincare, fragrances, and other personal care items. They often seek prestige beauty brands available at department store counters. This category also includes individuals purchasing gifts for birthdays, holidays, anniversaries, or other special occasions, leveraging Dillard's selection of giftable merchandise beyond apparel and home goods.

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William T. Dillard II Chairman and Chief Executive Officer

William T. Dillard II is the son of William T. Dillard Sr., the founder of Dillard's. He joined Dillard's in 1967, became president and chief operating officer in 1977, and assumed the role of Chief Executive Officer in May 1998, followed by Chairman in May 2002. He holds a Bachelor of Business Administration from the University of Arkansas and an MBA from Harvard University. Dillard has served on the board of directors of Acxiom Corp. since 1988 and Barnes & Noble, Inc. since 1993.

Chris B. Johnson Senior Vice President, Co-Principal Financial Officer

Chris B. Johnson has served as Co-Principal Financial Officer and Senior Vice President at Dillard's Inc. since 2015. He also holds the positions of Chief Financial Officer, Treasurer, and Secretary of CDI Contractors, LLC, a Dillard's subsidiary. Prior to joining Dillard's, he was a Senior Manager for Ernst & Young LLP. Johnson has held CFO positions and senior management roles at firms such as Ernst & Young and KPMG. He earned a Bachelor of Science in Business Administration with a major in Accounting from the University of Arkansas.

Alex Dillard President and Director

Alex Dillard is the brother of William T. Dillard II and serves as the President of Dillard's Inc. He has been involved in virtually every aspect of the company's operations.

Mike Dillard Executive Vice President and Director

Mike Dillard is an Executive Vice President and Director at Dillard's Inc. He is also the brother of William T. Dillard II.

Drue Matheny Executive Vice President and Director

Drue Matheny is an Executive Vice President at Dillard's Inc. and has served as a Director since 1994.

The Rapid Growth of Resale and Recommerce Platforms

The proliferation and increasing consumer adoption of digital resale and recommerce platforms (e.g., ThredUp, Poshmark, The RealReal, Vinted) represent a clear emerging threat to Dillard's traditional business model of selling new apparel, accessories, and home goods. These platforms capitalize on growing consumer interest in sustainability, value, and unique finds, offering a direct alternative to purchasing new items.

Evidence: The resale market is experiencing significant growth, with projections often indicating it will outpace fast fashion and traditional retail. Companies like ThredUp report substantial increases in users and transaction volumes. Major retailers and luxury brands are increasingly acknowledging this trend by either investing in or launching their own resale programs (e.g., Nordstrom's partnership with ThredUp, Lululemon's "Like New" program), indicating a strategic shift to compete with or integrate aspects of the circular economy. This directly impacts Dillard's by diverting consumer spend away from new merchandise and challenging the perceived value of purchasing full-priced items.

Dillard's (symbol: DDS) operates as a department store chain primarily within the United States, with a strong presence in the South and Southwest regions. Its main products include fashion apparel, cosmetics, footwear, accessories, and home furnishings. The addressable market sizes for these main products in the U.S. are as follows:

• Fashion Apparel: The U.S. apparel market size was valued at approximately $564.2 billion in 2023. Another estimate places the U.S. apparel garment industry at around $395 billion in 2025.
• Cosmetics: The U.S. cosmetics market size was estimated at $62.97 billion in 2023 and valued at approximately $97.89 billion in 2024. This market is projected to reach $95.05 billion by 2030.
• Footwear: Footwear is typically included within the broader apparel market. However, specific separate market sizing for footwear in the U.S. was not readily available in the provided search results.
• Accessories: The United States Fashion Accessories Market was valued at approximately $254.48 billion in 2024. This market is projected to reach $505.69 billion by 2033. Separately, the U.S. personal accessories market was valued at $97.47 billion in 2024.
• Home Furnishings/Home Decor: The U.S. home decor market generated revenue of approximately $237.87 billion in 2024. This market is expected to reach $392.56 billion by 2030.

Dillard's (DDS) is expected to drive future revenue growth over the next two to three years through a multi-faceted approach focusing on enhancing its omnichannel presence, optimizing its product offerings, and strategically managing its physical store footprint while improving the customer experience.

Here are 3-5 expected drivers of future revenue growth:

1. Enhanced Omnichannel Strategy and E-commerce Expansion: Dillard's is investing in its e-commerce platform and technology upgrades to support long-term growth and improve the overall shopping experience. These strategic investments aim to develop a leading omnichannel platform that integrates online and offline experiences to capture a larger share of the growing online market and increase productivity at existing stores.
2. Product Diversification and Trend-Right Merchandise Strategy: The company continues to expand its product lines to include a diverse range of items, such as apparel, home goods, beauty products, and accessories, to cater to a broader customer base and attract new shoppers. Dillard's also emphasizes offering fashionable and trendy merchandise, with strong performance noted in categories like juniors' and children's apparel and ladies' accessories and lingerie. This focus helps the company retain existing customers and attract new ones.
3. Strategic Store Optimization and Customer Experience Enhancements: Dillard's is undertaking initiatives to optimize its store network, including remodeling existing stores and opening new locations in high-potential markets, such as its recent expansion into a 30th state with a new store in Sioux Falls, SD. Alongside physical improvements, the company is investing in training employees for exceptional customer service and utilizing technology like mobile point-of-sale devices to enhance the in-store customer experience.

Share Repurchases

• In May 2021, Dillard's announced a new share repurchase program authorizing the company to repurchase up to $500 million of its Class A Common Stock.
• As of August 2, 2025, $165.2 million remained under the May 2023 share repurchase program.
• In the 26 weeks ended August 2, 2025, Dillard's repurchased $107.8 million of Class A Common Stock. Annual share buybacks were $544.868 million in 2022, $452.853 million in 2023, and $281.411 million in 2024.

Share Issuance

• The company's share count has decreased significantly over the last decade due to share repurchases.

Capital Expenditures

• Dillard's has forecasted $120 million in capital expenditures for fiscal year 2025, with a focus on enhancing infrastructure and operational capabilities.
• Annual capital expenditures were $104.36 million in 2022, $120.105 million in 2023, and $132.944 million in 2024.