Dillard's Inc
dillards.comDillard's Inc (NYSE: DDS) is a department store retail company that sells apparel, accessories, cosmetics, home furnishings, and related merchandise through its physical store network. Revenue comes from direct merchandise sales to retail customers, with gross margin generated on the spread between product cost and retail selling price. As of January 31, 2026, Dillard's operated 271 retail stores across the United States, with net sales of $6.47 billion in fiscal 2025 (fiscal year ended January 31, 2026). The company carries inventory under the LIFO retail inventory method, with approximately 95% of inventories valued using this approach. Retail gross margin as a percentage of retail net sales was 40.8% in fiscal 2025, down from 41.0% in fiscal 2024. Selling, general and administrative expenses were 27.2% of net sales in fiscal 2025. Cash flow from operations was $717.0 million in fiscal 2025. The company operates a captive insurance subsidiary to manage self-insured workers' compensation and general liability retentions. Dillard's lists its Class A and Class B common stock on the New York Stock Exchange.
Products & Services
Apparel, accessories, cosmetics, home furnishings, and related consumer merchandise sold through department stores. The company also operates a captive insurance subsidiary that underwrites self-insured workers' compensation (retention of $4 million per claim) and general liability (retention of $2 million per claim) exposures.
Revenue Model
Transactional retail sales of merchandise to consumers through physical department stores. Gross margin is earned on the difference between merchandise cost and retail selling price, with the retail inventory method applied to approximately 95% of inventory. The business is seasonal, with a significant portion of annual sales and income concentrated in the fourth fiscal quarter due to the holiday season.
Customers & Markets
General retail consumers purchasing apparel, accessories, and home goods through physical department stores. Demand is subject to consumer willingness and ability to absorb price increases, with the business affected by inflation in fiscal 2025 and fiscal 2024. No customer concentration disclosures are made in the filing excerpts provided.
Geographic Exposure
United States. The filing does not specify individual state or regional store counts in the excerpts provided. The company sources some merchandise from international suppliers.
Peers: Macy's Inc Kohls Corp NORDSTROM INC
Source: SEC 10-K, filed 2026-03-27
Financial Snapshot
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