Dillards posts Q3 profit- same store sales down 24%- closing 1 Phoenix store

Predicting the demise of Sears & Kmart since 2017!
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Re: Dillards posts Q3 profit- same store sales down 24%- closing 1 Phoenix store

Post by BillyGr »

That sort of makes sense - if they are getting rid of the items, they wouldn't have an easy way to deal with it later on.

Plus, it's seems it's part of the bargain - they give you a deal to take it off their hands, you give up the option to change your mind.
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Re: Dillards posts Q3 profit- same store sales down 24%- closing 1 Phoenix store

Post by SamSpade »

Dillards had another very strong quarter, they actually caused JWN / Nordstrom stock to go up as a result.
https://www.arkansasbusiness.com/articl ... demic-loss
They are also doing some stock buy backs and added a few more family members to the board (now 15, was 12 members).
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Re: Dillards posts Q3 profit- same store sales down 24%- closing 1 Phoenix store

Post by storewanderer »

Dillard's has the luxury of owning many stores, operating in many low cost markets, and having a curious pay scale where employee wages are based on hitting sales targets/sales goals (they will cut a floor clerk's pay if they don't meet a sales goal). Dillard's was very tight on expenses throughout 2020 limiting promotions, limiting store hours, and various other pretty hard cuts even during the holidays. It appears what they did has paid off with these results.

I continue to expect Dillard's to be one of the last department store chains standing.
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Re: Dillards posts Q3 profit- same store sales down 24%- closing 1 Phoenix store

Post by buckguy »

The last time I was in Dillard's (a few months ago), they had plenty of promotional activity and although they've had occasional good quarters before---the long-term trend is downward. The Dillards know that, which is why the company continues to buy back stock---it's all about inflating the dividends for the family. The family recognizes that it's a dying business and eventually they'll sell to private equity. Unlike the last few years of family ownership at Belk, they don't seem to be actively trying any strategy to rebuild the business.

Nordstrom has a couple niches and seems to be doing their best to fill them and then you have chains like Van Maur and Boscov that are truly family owned and have very specialized niches. These are chains that do actual merchandising and have people on the salesfloor (unlike Dillard's). I went to a Boscov's last fall and although it seemed a bit threadbare and "on the cheap" in terms of decor and upkeep, it was filled with customers and the store seemed to be surviving even though they were stuck in the same cycle of weekend promotions that seem to paralyze everyone else. They seem to be the rare example of where bankruptcy actually saved the chain.
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Re: Dillards posts Q3 profit- same store sales down 24%- closing 1 Phoenix store

Post by Jeff »

I still prefer Dillards over Macys and the other department stores. I drive a good 90 minutes to my closest location in Palmdale. Last time I was there 2 weeks ago, I asked if my favorite employee was there (cause I hadn't seen her since before Covid), and she wasn't. So the other employee texted her and sent a picture of me waving hi to her. And even though she wasnt there, she lit up his phone thankful that I was safe. Its the wonderful staff there that keeps me going back. Every store that I have been to the customer service is top notch. I may make a trip out to Scottsdale to visit that store.
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Re: Dillards posts Q3 profit- same store sales down 24%- closing 1 Phoenix store

Post by SamSpade »

Jeff wrote: May 20th, 2021, 6:00 pm I still prefer Dillards over Macys and the other department stores. I drive a good 90 minutes to my closest location in Palmdale. Last time I was there 2 weeks ago, I asked if my favorite employee was there (cause I hadn't seen her since before Covid), and she wasn't. So the other employee texted her and sent a picture of me waving hi to her. And even though she wasnt there, she lit up his phone thankful that I was safe. Its the wonderful staff there that keeps me going back. Every store that I have been to the customer service is top notch. I may make a trip out to Scottsdale to visit that store.
This reminds me of the story of a friend of mine that had to take his mom bra shopping. (she'd suffered a stroke, which also took most of her ability to speak, etc)

They went to Neiman Marcus as they were in Texas. The salesperson was so respectful, helpful, and made both of them feel like valued customers. I'm glad you have a favorite employee at your store, too.

When I worked at a department store footwear department, some ladies were downright nasty to me or refused to allow me to help them because I wasn't the full-time employee who always made a big show of himself and they trusted. But, he was also a gracious, helpful clerk that would make jokes about the customers that wanted Payless (it was literally outside our department) instead of what we were offering. :idea:
Off Topic
Dillards still offers full-service shoe departments like other higher priced stores, yes?
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Re: Dillards posts Q3 profit- same store sales down 24%- closing 1 Phoenix store

Post by storewanderer »

SamSpade wrote: May 20th, 2021, 6:23 pm
Jeff wrote: May 20th, 2021, 6:00 pm I still prefer Dillards over Macys and the other department stores. I drive a good 90 minutes to my closest location in Palmdale. Last time I was there 2 weeks ago, I asked if my favorite employee was there (cause I hadn't seen her since before Covid), and she wasn't. So the other employee texted her and sent a picture of me waving hi to her. And even though she wasnt there, she lit up his phone thankful that I was safe. Its the wonderful staff there that keeps me going back. Every store that I have been to the customer service is top notch. I may make a trip out to Scottsdale to visit that store.
This reminds me of the story of a friend of mine that had to take his mom bra shopping. (she'd suffered a stroke, which also took most of her ability to speak, etc)

They went to Neiman Marcus as they were in Texas. The salesperson was so respectful, helpful, and made both of them feel like valued customers. I'm glad you have a favorite employee at your store, too.

When I worked at a department store footwear department, some ladies were downright nasty to me or refused to allow me to help them because I wasn't the full-time employee who always made a big show of himself and they trusted. But, he was also a gracious, helpful clerk that would make jokes about the customers that wanted Payless (it was literally outside our department) instead of what we were offering. :idea:
Off Topic
Dillards still offers full-service shoe departments like other higher priced stores, yes?
Yes, Dillards shoe department is still full service.

Service at Reno Dillards has been a little spotty this year... but the employees who have been there a while, and there are many, they do know their regulars.
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Re: Dillards posts Q3 profit- same store sales down 24%- closing 1 Phoenix store

Post by Romr123 »

My grandmother told a story like that with not such a happy result--in Chicago, and she'd had a mastectomy (this was in the early 80s). When she was ready, she headed to Marshall Fields Oakbrook (as one does/did) for a breast form/bra. Got good service from the fitter, but pulled out her old MF credit card which had gone dormant--they made her re-apply then and there which so incensed her (given this was a relatively emotional purchase) she never darkened their doors again.
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Re: Dillards posts Q3 profit- same store sales down 24%- closing 1 Phoenix store

Post by storewanderer »

Dillard's did not hold its annual "New Year's Day Sale" this year. This is the sale that had an extra percent off all clearance items in the store and was a huge sale in years past.

Last year's sale seemed to be a bit of a customer service let down. They did not allow any use of fitting rooms due to COVID (okay, a lot of chains were running under that policy). They did however allow try on of shoes, right out in the open... (logic?)... However they also made their policy "all sales final" for any items purchased with the extra percent off during the New Year's Day Sale (typically such purchased had a 3 day return policy limit). Many customers seemed unhappy. Clearly sales of items you need to try on like pants were way down and they were left with far too many of those.

I am guessing Dillard's has enough "Clearance Centers" now that they need to feed all of this clearance stuff over to those stores to keep them stocked. So there is no need for this sale in the regular stores.
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