@school provide a brief summary of the article above. How has Dillard's performed compared to other department stores since the pandemic? Can we expect more department stores to purchase malls?
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Certainly! The article covers Dillard’s recent move to purchase the Longview Mall in Texas—a rare example, since most department stores have been closing mall locations in recent years.
Summary:
While department stores across the country have been leaving malls or shutting down entirely, Dillard’s is taking the unusual step of buying a mall outright. The company acquired the Longview Mall for $26 million, giving it more control over its retail environment and the chance to shape the tenant mix.
Dillard’s Performance vs. Other Department Stores (since the pandemic):
Dillard’s has actually outperformed most other national department stores since 2020. Unlike rivals such as Macy’s and Nordstrom, which have struggled with declining sales and store closures, Dillard’s reported record profits and saw its stock price soar. Its business model—focusing more on profitable locations and less promotional discounting—has helped it weather retail’s recent storms.
Outlook: Will More Department Stores Buy Malls?
It’s unlikely this will become a widespread trend. Most department stores lack the strong finances and local market position Dillard’s has, so outright mall ownership remains rare. Dillard’s unique combination of cash reserves, real estate strategy, and local presence made this possible for them. For the wider industry, store closures and consolidation will likely continue, rather than acquisitions like this one.
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