Dillard's (DDS)
Market Price (7/22/2026): $565.0 | Market Cap: $8.8 BilSector: Consumer Discretionary | Industry: Broadline Retail
Dillard's (DDS)
Market Price (7/22/2026): $565.0Market Cap: $8.8 BilSector: Consumer DiscretionaryIndustry: Broadline Retail
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 13%, Dividend Yield is 5.5%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 8.4%, FCF Yield is 8.5% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11% Low stock price volatilityVol 12M is 40% Megatrend and thematic driversMegatrends include E-commerce & Digital Retail, and Experience Economy & Premiumization. Themes include Direct-to-Consumer Brands, Luxury Consumer Goods, Show more. | Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.7% Key risksDDS key risks include [1] inventory management concerns, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 13%, Dividend Yield is 5.5%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 8.4%, FCF Yield is 8.5% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11% |
| Low stock price volatilityVol 12M is 40% |
| Megatrend and thematic driversMegatrends include E-commerce & Digital Retail, and Experience Economy & Premiumization. Themes include Direct-to-Consumer Brands, Luxury Consumer Goods, Show more. |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.7% |
| Key risksDDS key risks include [1] inventory management concerns, Show more. |
Qualitative Assessment
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Dillard's (DDS) stock has remained largely at the same level since 3/31/2026 because of the following key factors:
1. Q1 Fiscal 2026 Earnings Beat Heavily Influenced by One-Time Gain.
Dillard's reported strong earnings for fiscal Q1 2026, which ended May 2, 2026, with an Earnings Per Share (EPS) of $16.04. This figure significantly surpassed analyst consensus estimates, such as $10.13, by $5.91 per share. However, a substantial portion of this beat, $5.10 per share after tax, was attributable to a one-time pre-tax gain of $104.1 million from a litigation settlement related to payment card interchange fees. While total retail sales increased by 3% for the quarter to $1.518 billion, the non-recurring nature of the settlement gain likely led investors to discount the underlying operational profitability and contributed to a cautious market reaction following the headline beat.
2. Predominantly Cautious Analyst Sentiment and Price Targets.
Analyst ratings and price targets for Dillard's during the specified period generally reflected a cautious to negative outlook. Multiple firms issued or reiterated ratings that contributed to a downward pressure on the stock. For instance, UBS maintained a "Sell" rating with a price target of $465 on May 6, 2026. J.P. Morgan also maintained a "Sell" rating, adjusting its price target from $449 to $496 on May 19, 2026. The consensus price target across analysts ranged from approximately $521.33 to $537.00, which implied limited upside or potential downside from the stock's trading levels since late March 2026.
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Dillard's (DDS) stock has remained largely at the same level since 3/31/2026 because of the following key factors:
1. Q1 Fiscal 2026 Earnings Beat Heavily Influenced by One-Time Gain.
Dillard's reported strong earnings for fiscal Q1 2026, which ended May 2, 2026, with an Earnings Per Share (EPS) of $16.04. This figure significantly surpassed analyst consensus estimates, such as $10.13, by $5.91 per share. However, a substantial portion of this beat, $5.10 per share after tax, was attributable to a one-time pre-tax gain of $104.1 million from a litigation settlement related to payment card interchange fees. While total retail sales increased by 3% for the quarter to $1.518 billion, the non-recurring nature of the settlement gain likely led investors to discount the underlying operational profitability and contributed to a cautious market reaction following the headline beat.
2. Predominantly Cautious Analyst Sentiment and Price Targets.
Analyst ratings and price targets for Dillard's during the specified period generally reflected a cautious to negative outlook. Multiple firms issued or reiterated ratings that contributed to a downward pressure on the stock. For instance, UBS maintained a "Sell" rating with a price target of $465 on May 6, 2026. J.P. Morgan also maintained a "Sell" rating, adjusting its price target from $449 to $496 on May 19, 2026. The consensus price target across analysts ranged from approximately $521.33 to $537.00, which implied limited upside or potential downside from the stock's trading levels since late March 2026.
3. Persistent Headwinds in the Discretionary Retail Sector.
The broader retail environment continued to present challenges for department stores specializing in discretionary goods, such as apparel and home furnishings, which constitute Dillard's core merchandise mix. While the U.S. retail market showed overall resilience in fiscal Q2 2026, with total retail sales increasing 6.9% year-over-year, consumer spending became more selective. Inflationary pressures and economic uncertainty led many households to prioritize essentials, seek promotions, and trade down in certain categories, directly impacting sales in discretionary segments. This selective consumer behavior created a difficult operating landscape for Dillard's, potentially offsetting some company-specific strengths.
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Stock Movement Drivers
Fundamental Drivers
The -0.6% change in DDS stock from 3/31/2026 to 7/21/2026 was primarily driven by a -13.7% change in the company's P/E Multiple.| (LTM values as of) | 3312026 | 7212026 | Change |
|---|---|---|---|
| Stock Price ($) | 571.79 | 568.27 | -0.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 6,563 | 6,605 | 0.6% |
| Net Income Margin (%) | 8.7% | 9.9% | 14.5% |
| P/E Multiple | 15.7 | 13.5 | -13.7% |
| Shares Outstanding (Mil) | 16 | 16 | 0.0% |
| Cumulative Contribution | -0.6% |
Market Drivers
3/31/2026 to 7/21/2026| Return | Correlation | |
|---|---|---|
| DDS | -0.6% | |
| Market (SPY) | 15.1% | 8.1% |
| Sector (XLY) | 5.4% | 16.0% |
Fundamental Drivers
The -6.2% change in DDS stock from 12/31/2025 to 7/21/2026 was primarily driven by a -17.0% change in the company's P/E Multiple.| (LTM values as of) | 12312025 | 7212026 | Change |
|---|---|---|---|
| Stock Price ($) | 605.67 | 568.27 | -6.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 6,626 | 6,605 | -0.3% |
| Net Income Margin (%) | 8.8% | 9.9% | 13.5% |
| P/E Multiple | 16.3 | 13.5 | -17.0% |
| Shares Outstanding (Mil) | 16 | 16 | 0.0% |
| Cumulative Contribution | -6.2% |
Market Drivers
12/31/2025 to 7/21/2026| Return | Correlation | |
|---|---|---|
| DDS | -6.2% | |
| Market (SPY) | 10.0% | 14.7% |
| Sector (XLY) | -3.6% | 16.5% |
Fundamental Drivers
The 42.1% change in DDS stock from 6/30/2025 to 7/21/2026 was primarily driven by a 23.7% change in the company's P/E Multiple.| (LTM values as of) | 6302025 | 7212026 | Change |
|---|---|---|---|
| Stock Price ($) | 399.79 | 568.27 | 42.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 6,564 | 6,605 | 0.6% |
| Net Income Margin (%) | 8.8% | 9.9% | 13.1% |
| P/E Multiple | 10.9 | 13.5 | 23.7% |
| Shares Outstanding (Mil) | 16 | 16 | 1.0% |
| Cumulative Contribution | 42.1% |
Market Drivers
6/30/2025 to 7/21/2026| Return | Correlation | |
|---|---|---|
| DDS | 42.1% | |
| Market (SPY) | 22.1% | 18.7% |
| Sector (XLY) | 6.3% | 24.2% |
Fundamental Drivers
The 104.2% change in DDS stock from 6/30/2023 to 7/21/2026 was primarily driven by a 140.4% change in the company's P/E Multiple.| (LTM values as of) | 6302023 | 7212026 | Change |
|---|---|---|---|
| Stock Price ($) | 278.33 | 568.27 | 104.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 6,967 | 6,605 | -5.2% |
| Net Income Margin (%) | 12.1% | 9.9% | -17.7% |
| P/E Multiple | 5.6 | 13.5 | 140.4% |
| Shares Outstanding (Mil) | 17 | 16 | 8.9% |
| Cumulative Contribution | 104.2% |
Market Drivers
6/30/2023 to 7/21/2026| Return | Correlation | |
|---|---|---|
| DDS | 104.2% | |
| Market (SPY) | 74.8% | 34.5% |
| Sector (XLY) | 38.4% | 36.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| DDS Return | 306% | 39% | 32% | 13% | 47% | -8% | 1038% |
| Peers Return | 36% | -17% | 12% | 6% | 28% | 10% | 88% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 98% |
Monthly Win Rates [3] | |||||||
| DDS Win Rate | 75% | 58% | 50% | 50% | 58% | 43% | |
| Peers Win Rate | 55% | 38% | 55% | 53% | 58% | 54% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 43% | |
Max Drawdowns [4] | |||||||
| DDS Max Drawdown | -41% | -43% | -34% | -30% | -42% | -27% | |
| Peers Max Drawdown | -26% | -47% | -36% | -26% | -31% | -23% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: M, KSS, TJX, ROST, BURL. See DDS Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/21/2026 (YTD)
How Low Can It Go
| Event | DDS | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -42.0% | -18.8% |
| % Gain to Breakeven | 72.5% | 23.1% |
| Time to Breakeven | 111 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -21.6% | -7.8% |
| % Gain to Breakeven | 27.6% | 8.5% |
| Time to Breakeven | 99 days | 18 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -30.4% | -6.7% |
| % Gain to Breakeven | 43.7% | 7.1% |
| Time to Breakeven | 197 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -21.0% | -24.5% |
| % Gain to Breakeven | 26.6% | 32.4% |
| Time to Breakeven | 25 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -64.9% | -33.7% |
| % Gain to Breakeven | 184.9% | 50.9% |
| Time to Breakeven | 252 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -27.8% | -19.2% |
| % Gain to Breakeven | 38.5% | 23.8% |
| Time to Breakeven | 64 days | 105 days |
In The Past
Dillard's's stock fell -42.0% during the 2025 US Tariff Shock. Such a loss loss requires a 72.5% gain to breakeven.
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| Event | DDS | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -42.0% | -18.8% |
| % Gain to Breakeven | 72.5% | 23.1% |
| Time to Breakeven | 111 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -21.6% | -7.8% |
| % Gain to Breakeven | 27.6% | 8.5% |
| Time to Breakeven | 99 days | 18 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -30.4% | -6.7% |
| % Gain to Breakeven | 43.7% | 7.1% |
| Time to Breakeven | 197 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -21.0% | -24.5% |
| % Gain to Breakeven | 26.6% | 32.4% |
| Time to Breakeven | 25 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -64.9% | -33.7% |
| % Gain to Breakeven | 184.9% | 50.9% |
| Time to Breakeven | 252 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -27.8% | -19.2% |
| % Gain to Breakeven | 38.5% | 23.8% |
| Time to Breakeven | 64 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -23.2% | -3.7% |
| % Gain to Breakeven | 30.2% | 3.9% |
| Time to Breakeven | 117 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -36.7% | -12.2% |
| % Gain to Breakeven | 58.1% | 13.9% |
| Time to Breakeven | 886 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -46.2% | -6.8% |
| % Gain to Breakeven | 86.0% | 7.3% |
| Time to Breakeven | 1953 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -34.6% | -17.9% |
| % Gain to Breakeven | 52.9% | 21.8% |
| Time to Breakeven | 193 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -34.4% | -15.4% |
| % Gain to Breakeven | 52.3% | 18.2% |
| Time to Breakeven | 134 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -85.4% | -53.4% |
| % Gain to Breakeven | 582.9% | 114.4% |
| Time to Breakeven | 390 days | 1085 days |
| Summer 2007 Credit Crunch | ||
| % Loss | -45.2% | -8.6% |
| % Gain to Breakeven | 82.4% | 9.5% |
| Time to Breakeven | 1177 days | 47 days |
In The Past
Dillard's's stock fell -42.0% during the 2025 US Tariff Shock. Such a loss loss requires a 72.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Dillard's (DDS)
Dillard's, Inc. (DDS) operates as a major retail company across the southeastern, southwestern, and midwestern regions of the United States. The company's primary business involves running a chain of upscale department stores, which, as of early 2022, included 280 Dillard's stores, encompassing both full-line locations and clearance centers. Its retail presence is further extended through its comprehensive internet store at dillards.com.
The core offering of Dillard's stores is a wide selection of consumer goods designed to meet the fashion and home needs of its customers. This merchandise includes a diverse range of fashion apparel for women, men, and children, complemented by accessories, cosmetics, and various home furnishings. The company targets mainstream consumers in its geographic markets, providing a curated shopping experience for their personal and household product desires.
Beyond its extensive retail operations, Dillard's also engages in general contracting construction activities. While its primary identity remains rooted in its department store chain, this ancillary business contributes to the company's overall operational scope.
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1. Macy's for the South and Midwest.
2. A regional, slightly more upscale Kohl's.
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- Fashion Apparel: Clothing for women, men, and children sold through its department stores.
- Accessories: Various items such as jewelry, handbags, shoes, and other adornments for personal use.
- Cosmetics: Beauty products including makeup, skincare, and fragrances.
- Home Furnishings: Merchandise for decorating and equipping homes, such as furniture, decor, and kitchenware.
- Other Consumer Goods: A broad category encompassing various other retail products available in its department stores.
- General Contracting Construction Services: Building and construction activities provided by the company as a contractor.
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Dillard's (DDS) sells primarily to individual consumers rather than other companies. Based on its retail department store model, its major customer categories include:
- General Apparel and Accessories Shoppers: This broad category includes individuals and families purchasing fashion apparel for women, men, and children, as well as accessories, footwear, handbags, jewelry, and beauty products for personal use or as everyday gifts.
- Home Furnishings and Decor Shoppers: These customers are individuals buying items for their homes, such as bedding, bath linens, kitchenware, small home appliances, home decor, and other domestic goods.
- Occasional and Gift Shoppers: Customers purchasing items for specific occasions, holidays, or as gifts for others. Dillard's wide range of merchandise makes it a destination for gifts across various categories, from fashion to home goods.
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William T. Dillard II, Chairman and Chief Executive Officer
William T. Dillard II is the son of Dillard's founder, William T. Dillard, and has served as Chairman and Chief Executive Officer of Dillard's, Inc. He earned a Bachelor of Business Administration from the University of Arkansas and an M.B.A. from Harvard Business School. Dillard II joined the company's board of directors in 1967, became president and chief operating officer in 1977, assumed the role of chief executive officer in 1998, and was named chairman in 2002. He has been involved in nearly every aspect of the company's operations for over 55 years and was an early adopter of technology, introducing data processing and computerizing purchase orders as early as 1973. He has also served on the boards of Acxiom Corp. since 1988 and Barnes & Noble since 1993. Under his leadership, Dillard's has navigated economic challenges and transformed its retail strategy by focusing on curated, higher-quality brands and expanding e-commerce capabilities.
Chris Johnson, Senior Vice President, Co-Principal Financial Officer
Chris Johnson serves as Senior Vice President and Co-Principal Financial Officer of Dillard's, Inc. He has been in this role since 2015.
Phillip Watts, Senior Vice President, Co-Principal Financial Officer and Principal Accounting Officer
Phillip Watts holds the titles of Senior Vice President, Co-Principal Financial Officer, and Principal Accounting Officer at Dillard's, Inc.
Alex Dillard, President and Director
Alex Dillard, the son of the founder William T. Dillard, is the President of Dillard's, Inc. He has served on the company's Board of Directors since 1975 and has over 50 years of experience in virtually every aspect of Dillard's operations and merchandising. He works closely with the CEO in the day-to-day supervision of the business.
Mike Dillard, Executive Vice President and Director
Mike Dillard, also a son of the company's founder, is an Executive Vice President of Dillard's, Inc. He has been a member of the Board of Directors since 1976 and has spent his entire professional career within the company, heading one of its largest merchandising divisions.
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- Intense Competition and Evolving Retail Landscape: Dillard's operates in a highly competitive retail environment, facing numerous competitors including national and local department stores, specialty retailers, off-price retailers, and online platforms like Amazon. The traditional department store model is experiencing a long-term decline, with consumers increasingly shifting towards value and digital convenience. The company's success depends on its ability to predict and respond to fashion trends and changing customer preferences, including the rapid shift towards online shopping and discount retailers.
- Economic Conditions and Consumer Spending: Dillard's financial performance is highly sensitive to changes in overall economic conditions that impact consumer confidence and spending, especially in the regions where it operates. Economic uncertainty and fluctuations can lead to decreased sales and profitability, as the company has faced weak consumer sentiment. The ability to pass on cost increases to customers also remains uncertain amidst economic and geopolitical factors like inflation.
- Slowing Sales, Profitability Concerns, and Inventory Management: Dillard's has experienced challenges with slowing earnings, limited top-line growth, and declining sales performance. Recent reports indicate a decline in comparable store sales and a projected drop in revenue by analysts. Effective inventory management is a critical weakness in the department store sector; Dillard's has shown signs of potential overstocking, which can lead to markdowns and reduced profitability.
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The aggressive expansion of online-only retailers specializing in fast fashion and direct-to-consumer (DTC) models presents a clear emerging threat to Dillard's. This includes:
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Online Fast Fashion Giants: Companies like Shein, Temu, and Boohoo leverage highly efficient global supply chains, rapid trend replication, and sophisticated digital marketing to offer vast assortments of affordable, trendy apparel and accessories directly to consumers online. This business model fundamentally challenges Dillard's traditional retail approach by offering extreme convenience, competitive pricing, and constantly refreshed inventory at a speed and scale difficult for department stores to match, thereby shifting consumer expectations and market share.
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Accelerated Shift to Direct-to-Consumer (DTC) by Major Brands: An increasing number of established and emerging brands across apparel, cosmetics, and home goods are investing heavily in and prioritizing their own online retail channels (and sometimes dedicated physical stores). This trend allows brands to capture higher margins, control their customer experience, and build direct relationships, effectively bypassing traditional department stores like Dillard's. This disintermediation erodes Dillard's role as a primary distribution channel, diminishes its unique product offerings and selection advantage, and can lead to reduced foot traffic and online sales.
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The addressable markets for Dillard's main products and services in the U.S. are as follows:
- Women's Fashion Apparel: The U.S. women's apparel market was projected to be USD 291.57 billion in 2023 and is expected to reach USD 390.49 billion by 2032.
- Men's Fashion Apparel: The U.S. menswear market is anticipated to reach USD 154.5 billion in 2025.
- Children's Fashion Apparel: The U.S. kids' apparel market is projected to grow from USD 49.01 billion in 2025 to USD 69.76 billion by 2035.
- Accessories: The U.S. fashion accessories market was valued at USD 223.2 billion in 2024 and is projected to reach USD 477.4 billion by 2034.
- Cosmetics: The U.S. cosmetics market size was estimated at USD 62.97 billion in 2023.
- Home Furnishings: The U.S. home furnishing market generated a revenue of USD 252.27 billion in 2024 and is expected to reach USD 412.14 billion by 2030.
- General Contracting Construction: The overall U.S. construction market, which includes general contracting activities, was valued at USD 2.2 trillion in 2025.
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Expected Revenue Growth Drivers for Dillard's (DDS)
Over the next 2-3 years, Dillard's (DDS) is expected to focus on several key areas to drive or sustain future revenue growth, amidst a generally challenging retail environment:
- E-commerce Expansion and Omnichannel Presence: Dillard's has an opportunity to expand its e-commerce platform and enhance its omnichannel presence by investing in digital capabilities to integrate online and offline shopping experiences. This strategy aims to capture a larger share of the growing online market.
- Strategic Store Optimization and Targeted New Store Openings: The company plans to strategically optimize its store portfolio, which includes closing underperforming locations, remodeling existing stores, and opening new ones in high-potential markets. For instance, a new 160,000 square-foot Dillard's location is planned to open in March 2026 at The Mall at Fairfield Commons in Beavercreek, Ohio.
- Growth and Leverage of Clearance Centers: Dillard's operates dedicated clearance centers that have demonstrated success as a high-performing asset, appealing to value-conscious consumers. These centers experienced a 7.5% rise in traffic between January and August 2025, indicating their potential as a significant revenue contributor and a model for future expansion.
- Focus on High-Performing Product Categories and Improved Merchandising: While facing headwinds, Dillard's has shown strength in specific categories, such as activewear, and has achieved high retail gross margins through improved merchandising and efficient inventory control. Sustaining and expanding on these efforts in product selection and management can support revenue performance.
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Share Repurchases
- In May 2023, Dillard's authorized a new share repurchase program for up to $500 million of its Class A Common Stock. This authorization followed the completion of its previous share repurchase program.
- During the 39 weeks ended November 1, 2025, the company repurchased approximately 300,000 shares of Class A Common Stock for $107.8 million. As of that date, $165.2 million remained authorized under the May 2023 program.
- The company completed a $334.79 million buyback program.
Share Issuance
- The number of shares outstanding for Dillard's has consistently declined over the past few years, indicating share repurchases rather than issuances. Annual shares outstanding were 17.135 million in 2023, 16.23 million in 2024, and 15.904 million in 2025.
Capital Expenditures
- Dillard's projects a capital expenditure of $130 million for 2026, aimed at enhancing growth and operational efficiency.
- This projected capital expenditure for 2026 includes funding for projects such as a new 160,000 square foot store in Beavercreek, Ohio.
- Actual capital expenditures were $93 million for fiscal year 2025, $132.944 million in 2024, and $120.105 million in 2023.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 195.43 |
| Mkt Cap | 15.6 |
| Rev LTM | 19,090 |
| Op Inc LTM | 876 |
| FCF LTM | 1,049 |
| FCF 3Y Avg | 667 |
| CFO LTM | 1,592 |
| CFO 3Y Avg | 1,254 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 4.3% |
| Rev Chg 3Y Avg | 2.6% |
| Rev Chg Q | 6.0% |
| QoQ Delta Rev Chg LTM | 1.3% |
| Op Inc Chg LTM | 5.8% |
| Op Inc Chg 3Y Avg | 14.6% |
| Op Mgn LTM | 8.9% |
| Op Mgn 3Y Avg | 9.0% |
| QoQ Delta Op Mgn LTM | 0.0% |
| CFO/Rev LTM | 11.7% |
| CFO/Rev 3Y Avg | 10.3% |
| FCF/Rev LTM | 7.8% |
| FCF/Rev 3Y Avg | 5.9% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 15.6 |
| P/S | 1.6 |
| P/Op Inc | 17.7 |
| P/EBIT | 17.0 |
| P/E | 21.6 |
| P/CFO | 13.7 |
| Total Yield | 8.7% |
| Dividend Yield | 1.9% |
| FCF Yield 3Y Avg | 6.6% |
| D/E | 0.2 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 1.9% |
| 3M Rtn | 4.3% |
| 6M Rtn | 8.1% |
| 12M Rtn | 53.5% |
| 3Y Rtn | 97.7% |
| 1M Excs Rtn | 1.8% |
| 3M Excs Rtn | -2.9% |
| 6M Excs Rtn | -2.9% |
| 12M Excs Rtn | 39.1% |
| 3Y Excs Rtn | 33.4% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Retail Operations | 6,232 | 6,219 | 6,480 | 6,702 | 6,375 |
| Construction | 269 | 295 | 321 | 214 | 118 |
| Service charges and other income | 90 | 108 | 122 | 125 | 131 |
| Elimination of intersegment revenues | -27 | -31 | -48 | -45 | |
| Total | 6,563 | 6,590 | 6,874 | 6,996 | 6,624 |
| $ Mil | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Retail Operations | 3,439 | 3,454 | 3,378 | 3,274 | 3,200 |
| Construction | 66 | 77 | 71 | 55 | 46 |
| Total | 3,505 | 3,531 | 3,449 | 3,329 | 3,246 |
Price Behavior
| Market Price | $568.27 | |
| Market Cap ($ Bil) | 8.9 | |
| First Trading Date | 06/30/1989 | |
| Distance from 52W High | -18.8% | |
| 50 Days | 200 Days | |
| DMA Price | $560.58 | $598.11 |
| DMA Trend | indeterminate | down |
| Distance from DMA | 1.4% | -5.0% |
| 3M | 1YR | |
| Volatility | 38.8% | 40.2% |
| Downside Capture | 46.08 | 51.03 |
| Upside Capture | -6.03 | 68.86 |
| Correlation (SPY) | -3.7% | 18.3% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.40 | 0.11 | 0.50 | 0.51 | 0.67 | 0.95 |
| Up Beta | -2.21 | -1.27 | 0.51 | 0.50 | 0.69 | 1.01 |
| Down Beta | 1.44 | 0.44 | 0.16 | 0.71 | 0.50 | 0.82 |
| Up Capture | -118% | 6% | 27% | 16% | 75% | 103% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 8 | 20 | 31 | 61 | 132 | 379 |
| Down Capture | 2% | 70% | 99% | 74% | 71% | 99% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 13 | 21 | 32 | 64 | 120 | 372 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DDS | |
|---|---|---|---|---|
| DDS | 28.8% | 40.1% | 0.72 | - |
| Sector ETF (XLY) | 4.0% | 18.7% | 0.08 | 23.8% |
| Equity (SPY) | 20.3% | 12.6% | 1.19 | 18.5% |
| Gold (GLD) | 21.6% | 28.1% | 0.69 | 5.2% |
| Commodities (DBC) | 31.4% | 19.1% | 1.30 | -7.4% |
| Real Estate (VNQ) | 15.0% | 14.0% | 0.76 | 16.6% |
| Bitcoin (BTCUSD) | -44.6% | 42.9% | -1.25 | 14.5% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DDS | |
|---|---|---|---|---|
| DDS | 31.7% | 50.2% | 0.73 | - |
| Sector ETF (XLY) | 5.7% | 23.9% | 0.20 | 45.2% |
| Equity (SPY) | 12.9% | 17.1% | 0.58 | 43.6% |
| Gold (GLD) | 17.3% | 18.4% | 0.76 | 1.9% |
| Commodities (DBC) | 8.9% | 19.5% | 0.35 | 17.0% |
| Real Estate (VNQ) | 2.9% | 18.9% | 0.05 | 36.0% |
| Bitcoin (BTCUSD) | 14.9% | 53.4% | 0.46 | 18.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DDS | |
|---|---|---|---|---|
| DDS | 28.2% | 59.6% | 0.66 | - |
| Sector ETF (XLY) | 12.1% | 22.1% | 0.50 | 40.6% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 39.3% |
| Gold (GLD) | 11.2% | 16.1% | 0.57 | -1.1% |
| Commodities (DBC) | 7.2% | 17.9% | 0.32 | 15.9% |
| Real Estate (VNQ) | 5.1% | 20.7% | 0.21 | 34.6% |
| Bitcoin (BTCUSD) | 58.7% | 66.2% | 0.99 | 10.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 6/17/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/14/2026 | 0.7% | 3.2% | 5.8% |
| 2/24/2026 | 0.7% | 2.7% | -4.8% |
| 11/13/2025 | -4.4% | -10.2% | 2.5% |
| 8/14/2025 | 3.4% | 1.6% | 17.7% |
| 5/15/2025 | 2.4% | 3.0% | 0.9% |
| 2/25/2025 | -4.2% | -19.3% | -19.6% |
| 11/14/2024 | -1.4% | 0.2% | 4.2% |
| 8/15/2024 | 1.2% | -0.7% | 0.8% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 19 | 17 | 17 |
| # Negative | 5 | 7 | 7 |
| Median Positive | 3.0% | 5.6% | 6.8% |
| Median Negative | -1.6% | -9.7% | -9.0% |
| Max Positive | 22.7% | 26.8% | 59.1% |
| Max Negative | -4.4% | -19.3% | -19.6% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/14/2026 | 0.7% | 3.2% | 5.8% |
| 2/24/2026 | 0.7% | 2.7% | -4.8% |
| 11/13/2025 | -4.4% | -10.2% | 2.5% |
| 8/14/2025 | 3.4% | 1.6% | 17.7% |
| 5/15/2025 | 2.4% | 3.0% | 0.9% |
| 2/25/2025 | -4.2% | -19.3% | -19.6% |
| 11/14/2024 | -1.4% | 0.2% | 4.2% |
| 8/15/2024 | 1.2% | -0.7% | 0.8% |
| 5/16/2024 | 0.7% | 2.0% | -2.0% |
| 2/26/2024 | 0.5% | -4.6% | 1.9% |
| 11/9/2023 | 0.2% | 7.8% | 30.4% |
| 8/10/2023 | -1.6% | -9.7% | -13.8% |
| 5/11/2023 | 0.2% | 3.4% | 20.7% |
| 2/21/2023 | 2.6% | 5.8% | -9.0% |
| 11/10/2022 | 10.3% | 13.4% | 3.6% |
| 8/11/2022 | 3.0% | 12.7% | 6.8% |
| 5/12/2022 | 3.5% | -12.8% | -7.7% |
| 2/23/2022 | 7.0% | 17.8% | 21.7% |
| 11/12/2021 | 4.2% | 9.7% | -19.4% |
| 8/13/2021 | 4.6% | 2.2% | 2.3% |
| 5/13/2021 | 22.7% | 26.8% | 59.1% |
| 2/22/2021 | -0.4% | 10.3% | 10.4% |
| 11/12/2020 | 5.8% | 5.6% | 10.6% |
| 8/13/2020 | 8.7% | -4.0% | 29.0% |
| SUMMARY STATS | |||
| # Positive | 19 | 17 | 17 |
| # Negative | 5 | 7 | 7 |
| Median Positive | 3.0% | 5.6% | 6.8% |
| Median Negative | -1.6% | -9.7% | -9.0% |
| Max Positive | 22.7% | 26.8% | 59.1% |
| Max Negative | -4.4% | -19.3% | -19.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 04/30/2026 | 06/05/2026 | 10-Q |
| 01/31/2026 | 03/27/2026 | 10-K |
| 10/31/2025 | 12/05/2025 | 10-Q |
| 07/31/2025 | 09/05/2025 | 10-Q |
| 04/30/2025 | 06/06/2025 | 10-Q |
| 01/31/2025 | 03/28/2025 | 10-K |
| 10/31/2024 | 12/06/2024 | 10-Q |
| 07/31/2024 | 09/06/2024 | 10-Q |
| 04/30/2024 | 06/07/2024 | 10-Q |
| 01/31/2024 | 03/29/2024 | 10-K |
| 10/31/2023 | 12/07/2023 | 10-Q |
| 07/31/2023 | 09/01/2023 | 10-Q |
| 04/30/2023 | 06/02/2023 | 10-Q |
| 01/31/2023 | 03/27/2023 | 10-K |
| 10/31/2022 | 12/02/2022 | 10-Q |
| 07/31/2022 | 09/01/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 04/30/2026 | 06/05/2026 | 10-Q |
| 01/31/2026 | 03/27/2026 | 10-K |
| 10/31/2025 | 12/05/2025 | 10-Q |
| 07/31/2025 | 09/05/2025 | 10-Q |
| 04/30/2025 | 06/06/2025 | 10-Q |
| 01/31/2025 | 03/28/2025 | 10-K |
| 10/31/2024 | 12/06/2024 | 10-Q |
| 07/31/2024 | 09/06/2024 | 10-Q |
| 04/30/2024 | 06/07/2024 | 10-Q |
| 01/31/2024 | 03/29/2024 | 10-K |
| 10/31/2023 | 12/07/2023 | 10-Q |
| 07/31/2023 | 09/01/2023 | 10-Q |
| 04/30/2023 | 06/02/2023 | 10-Q |
| 01/31/2023 | 03/27/2023 | 10-K |
| 10/31/2022 | 12/02/2022 | 10-Q |
| 07/31/2022 | 09/01/2022 | 10-Q |
| 04/30/2022 | 06/03/2022 | 10-Q |
| 01/31/2022 | 03/29/2022 | 10-K |
| 10/31/2021 | 12/03/2021 | 10-Q |
| 07/31/2021 | 09/03/2021 | 10-Q |
| 04/30/2021 | 06/09/2021 | 10-Q |
| 01/31/2021 | 03/29/2021 | 10-K |
| 10/31/2020 | 12/04/2020 | 10-Q |
| 07/31/2020 | 09/04/2020 | 10-Q |
| 04/30/2020 | 06/05/2020 | 10-Q |
| 01/31/2020 | 03/31/2020 | 10-K |
| 10/31/2019 | 12/11/2019 | 10-Q |
| 07/31/2019 | 09/11/2019 | 10-Q |
Recent Forward Guidance
Updated 7/12/2026Latest: Q1 2026 Earnings Reported 5/14/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Depreciation and amortization | 175.00 Mil | 0 | Affirmed | Guidance: 175.00 Mil for 2026 | |||
| 2026 Rentals | 18.00 Mil | 0 | Affirmed | Guidance: 18.00 Mil for 2026 | |||
| 2026 Interest and debt (income) expense, net | -5.00 Mil | 0 | Affirmed | Guidance: -5.00 Mil for 2026 | |||
| 2026 Capital expenditures | 130.00 Mil | 0 | Affirmed | Guidance: 130.00 Mil for 2026 | |||
Prior: Q4 2025 Earnings Reported 2/24/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Depreciation and amortization | 175.00 Mil | -2.8% | Lower New | Actual: 180.00 Mil for 2025 | |||
| 2026 Rentals | 18.00 Mil | -10.0% | Lower New | Actual: 20.00 Mil for 2025 | |||
| 2026 Interest and debt (income) expense, net | -5.00 Mil | -28.6% | Higher New | Actual: -7.00 Mil for 2025 | |||
| 2026 Capital expenditures | 130.00 Mil | 30.0% | Higher New | Actual: 100.00 Mil for 2025 | |||
Q3 2025 Earnings Reported 11/13/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Depreciation and amortization | 180.00 Mil | 0 | Affirmed | Guidance: 180.00 Mil for 2025 | |||
| 2025 Rentals | 20.00 Mil | 0 | Affirmed | Guidance: 20.00 Mil for 2025 | |||
| 2025 Interest and debt (income) expense, net | -7.00 Mil | 0 | Affirmed | Guidance: -7.00 Mil for 2025 | |||
| 2025 Capital expenditures | 100.00 Mil | -16.7% | Lowered | Guidance: 120.00 Mil for 2025 | |||
Investor Activity (13F)
Updated Jul 22, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
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Industry Resources
| Consumer Discretionary Resources |
| Retail Dive |
| Business of Fashion (BoF) |
| WWD (Women's Wear Daily) |
| National Retail Federation (NRF) |
| McKinsey & Company - Consumer |
| Mintel Consumer Trends |
| Broadline Retail Resources |
| Chain Store Age |
| RetailWire |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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