Dillard's to Close Another Store, But Says Openings Outpace Closings

by Arkansas Business Staff  on Tuesday, Aug. 28, 2007 11:40 am  

Dillard's Inc. of Little Rock this week confirmed another store closing, this time in Tallahassee, Fla.

The Tallahassee Democrat reported Tuesday that Dillard's store managers at the Tallahassee Mall said the retailer would leave when its lease was up January. The Tallahassee Mall anchor location is one of few stores that Dillard's does not own.

Dillard's recently announced it was closing a store in Nashville, Tenn., and one in Crestwood, Mo., just outside of St. Louis. Both will be closed by October.

Dillard's spokeswoman Julie Bull told Arkansas Business late last week that Dillard's has shut down four poor performing stores this year.

It was unclear what the sales were at the stores, but a news report said Dillard's, Sears and Macy's generated a total of $48.6 million in sales at the Crestwood Plaza in 2006.

While Dillard's was shutting some doors, others were being opened.

This year alone, nine new Dillard's Stores will open to shoppers. The next one is scheduled for a Sept. 3 opening in Frisco, Texas, at the Stonebriar Centre.

Dillard's has 328 locations across the country.

Shares of Dillard's (NYSE: DDS) were trading at $24.75 on Tuesday after closing at $25.68 on Monday.



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