It’s been a great 12 months for the Dillard family.
Last November, we calculated the value of the stock held by the William Dillard family in the publicly traded Little Rock retail chain at $407 million. That was based on a Nov. 9, 2020, closing price of $52.01.
Last week, each share was briefly worth $300, so the number of shares that were worth less than a half-billion last November were worth $2.36 billion, at least for a time. And that’s nearly $1 billion more since we last reported on the value of Dillard’s stock in June. Late last week, the stock was trading in the $290 range.
The members of the Dillard family who have publicly disclosed stock holdings are William Dillard II, Alex Dillard, Mike Dillard, Drue Dillard Matheny, William “Bill” Dillard III, Deborah Dillard, Annemarie Dillard Jazic and Denise Alexandra Dillard Lucie.
It’s difficult to say what’s driving the record stock price. Last month, the National Retail Federation of Washington predicted that holiday sales will break records, rising between 8.5% and 10.5% over 2020 to between $843.4 billion and $859 billion. It also expects that online and other non-store sales, which are included in the total, will increase between 11% and 15% to between $218.3 billion and $226.2 billion. In 2020, the amount was $196.7 billion.
Others are gearing up for the holidays. Fortune magazine reports that department store Kohl’s is offering signing bonuses to prospective employees of up to $400, and Macy’s will pay up to $500 in referral bonuses to workers who help it find new employees.
We asked Dillard’s if it had a similar bonus program to attract workers. “We are always seeking to attract the very best talent to Dillard’s, and we design competitive compensation and benefit plans with permanent hiring always as our goal,” Julie Johnson Guymon, Dillard’s spokeswoman, said via email.