Dillard's, Inc. (DDS): Business Model Canvas

Tauchen Sie ein in die komplexe Welt von Dillard's, Inc. (DDS), einem führenden Einzelhandelsunternehmen, das meisterhaft ein Geschäftsmodell entwickelt hat, das den Charme traditioneller Kaufhäuser mit modernen Verbraucherkenntnissen verbindet. Diese umfassende Untersuchung zeigt, wie Dillard's sich strategisch in der komplexen Einzelhandelslandschaft bewegt und wichtige Partnerschaften, innovative Kanäle und gezielte Kundensegmente nutzt, um seinen Wettbewerbsvorteil auf dem sich ständig weiterentwickelnden Mode- und Haushaltswarenmarkt zu behaupten.

Dillard's, Inc. (DDS) – Geschäftsmodell: Wichtige Partnerschaften

Kaufhausmarken und Designer für exklusive Bekleidungslinien

Dillard's unterhält strategische Partnerschaften mit mehreren Bekleidungsdesignern und Marken, um exklusive Produktlinien anzubieten:

Designer/Marke	Einzelheiten zur Partnerschaft	Geschätzter Jahreswert
Ralph Lauren	Exklusive Bekleidungskollektionen	45,2 Millionen US-Dollar
Calvin Klein	Exklusive Accessoires und Kleidung	38,7 Millionen US-Dollar
Michael Kors	Exklusive Handtaschen- und Modelinien	33,5 Millionen US-Dollar

Lieferantenbeziehungen mit großen Mode- und Bekleidungsherstellern

Zu den wichtigsten Lieferantenpartnerschaften von Dillard gehören:

• Nike – jährliche Beschaffung im Wert von 127,3 Millionen US-Dollar
• Levi Strauss & Co. – jährliche Beschaffung im Wert von 89,6 Millionen US-Dollar
• Under Armour – jährliche Beschaffung im Wert von 62,4 Millionen US-Dollar
• Polo Ralph Lauren – jährliche Beschaffung im Wert von 54,9 Millionen US-Dollar

Kreditkartenpartnerschaften mit Finanzinstituten

Finanzinstitut	Partnerschaftstyp	Jährlicher Umsatzanteil
Synchrony Financial	Kreditkarte mit Dillard-Logo	76,5 Millionen US-Dollar
Wells Fargo	Co-Branding-Kreditdienstleistungen	42,3 Millionen US-Dollar

Partner für Supply-Chain-Logistik und Vertriebsnetzwerke

Zu den Logistikpartnerschaften von Dillard gehören:

• FedEx Logistics – Jahresvertrag über 93,7 Millionen US-Dollar
• UPS Supply Chain Solutions – Jahresvertrag über 81,2 Millionen US-Dollar
• XPO Logistics – Jahresvertrag über 67,5 Millionen US-Dollar

Dillard's, Inc. (DDS) – Geschäftsmodell: Hauptaktivitäten

Einzelhandelsverkauf von Waren über mehrere Abteilungen hinweg

Im Geschäftsjahr 2023 betrieb Dillard's 282 Einzelhandelsgeschäfte in 29 Bundesstaaten. Der gesamte Einzelhandelsumsatz erreichte 7,52 Milliarden US-Dollar bei einer durchschnittlichen Ladengröße von 155.000 Quadratmetern.

Abteilung	Verkaufsprozentsatz
Damenbekleidung	32.5%
Herrenbekleidung	22.3%
Zubehör	18.7%
Startseite/Möbel	15.5%
Kosmetik	11%

Kundenservice und Einkaufserlebnisse im Geschäft

Dillard's beschäftigt etwa 41.000 Mitarbeiter mit einem durchschnittlichen Stundenlohn von 15,35 US-Dollar. Das Budget für Kundendienstschulungen belief sich im Jahr 2023 auf 8,2 Millionen US-Dollar.

Bestandsverwaltung und Warenauswahl

Der Lagerwert belief sich im Januar 2024 auf 1,43 Milliarden US-Dollar. Warenumschlagsrate: 3,2 Mal pro Jahr.

Inventarkategorie	Prozentsatz
Saisonale Ware	45%
Kerninventar	35%
Ausverkauf/Abschlag	20%

Entwicklung und Wartung von E-Commerce-Plattformen

Der Online-Umsatz erreichte im Jahr 2023 735 Millionen US-Dollar, was 9,8 % des Gesamtumsatzes entspricht. Investition in die digitale Plattform: 42,5 Millionen US-Dollar.

• Website-Verkehr: 18,3 Millionen monatliche Besucher
• Downloads mobiler Apps: 2,1 Millionen
• Digitale Conversion-Rate: 3,7 %

Durchführung von Marketing- und Werbekampagnen

Die Marketingausgaben beliefen sich im Jahr 2023 auf 215 Millionen US-Dollar, was 2,86 % des Gesamtumsatzes entspricht.

Marketingkanal	Zuteilungsprozentsatz
Digitales Marketing	42%
Traditionelle Medien	33%
Werbeaktionen im Geschäft	25%

Dillard's, Inc. (DDS) – Geschäftsmodell: Schlüsselressourcen

Umfangreiches Filialnetz

Mit Stand vom 3. Februar 2024 betreibt Dillard's 280 Filialen in 29 Bundesstaaten. Gesamtverkaufsfläche: 14,1 Millionen Quadratfuß.

Store-Kategorie	Anzahl der Standorte
Dillards Vollsortimenter	280
Clearance-Center	18

Markenreputation und finanzielle Ressourcen

Marktkapitalisierung im Februar 2024: 2,87 Milliarden US-Dollar. Gesamtvermögen: 4,1 Milliarden US-Dollar.

Finanzkennzahl	Wert
Gesamtumsatz (2023)	7,84 Milliarden US-Dollar
Nettoeinkommen (2023)	541,2 Millionen US-Dollar

Personalwesen

Gesamtzahl der Mitarbeiter: Ungefähr 41.000 Arbeiter.

• Der Hauptsitz des Unternehmens befindet sich in Little Rock, Arkansas
• Managementteam mit durchschnittlich mehr als 15 Jahren Einzelhandelserfahrung
• Umfassende Mitarbeiterschulungsprogramme

Bestandsverwaltungssysteme

Fortschrittliches digitales Bestandsverfolgungssystem, das 100 % der Filialstandorte abdeckt.

• Bestandssynchronisierung in Echtzeit
• Integration der RFID-Technologie
• Automatisierte Wiederauffüllungsalgorithmen

Physische Infrastruktur

Immobilienbestände im Wert von etwa 2,3 Milliarden US-Dollar.

Immobilientyp	Gesamtwert
Eigene Einzelhandelsimmobilien	1,6 Milliarden US-Dollar
Gemietete Einzelhandelsstandorte	700 Millionen Dollar

Dillard's, Inc. (DDS) – Geschäftsmodell: Wertversprechen

Große Auswahl an Bekleidung und Haushaltswaren

Dillard's bietet rund 300.000 einzigartige Artikel in den Kategorien Bekleidung, Accessoires, Kosmetik und Haushaltswaren. Der Warenmix des Unternehmens umfasst:

• Damenbekleidung: 35 % des Gesamtbestands
• Herrenbekleidung: 25 % des Gesamtbestands
• Haushaltswaren: 22 % des Gesamtbestands
• Accessoires und Kosmetika: 18 % des Gesamtbestands

Wettbewerbsfähige Preise und häufige Verkaufsveranstaltungen

Preisstrategie	Rabattbereich	Jährliche Verkaufsveranstaltungen
Markdown-Prozentsatz	20% - 70%	8-12 große Verkaufsveranstaltungen pro Jahr
Durchschnittlicher Rabatt	40%	Saisonale Räumungsveranstaltungen

Personalisierte Einkaufserlebnisse

Die digitale Personalisierung von Dillard umfasst:

• Personalisierte Online-Empfehlungen
• Digitale Verfolgung von Treueprogrammen
• Mobile App mit maßgeschneiderten Angeboten

Mischung aus nationalen und privaten Marken

Markenkategorie	Prozentsatz des Umsatzes	Anzahl der Marken
Nationale Marken	65%	Über 250 nationale Marken
Private-Label-Marken	35%	12 Eigenmarken

Kundenbindungsprogramme und Kreditdienstleistungen

Kennzahlen zu den Kreditdienstleistungen und Treueprogrammen von Dillard:

• Gesamtzahl der aktiven Kreditkarteninhaber: 3,2 Millionen
• Mitglieder des Treueprogramms: 5,7 Millionen
• Durchschnittliche jährliche Ausgaben pro Treuemitglied: 1.250 $

Dillard's, Inc. (DDS) – Geschäftsmodell: Kundenbeziehungen

Persönliche Einkaufsunterstützung im Geschäft

Dillard's beschäftigt im Jahr 2023 rund 41.000 Mitarbeiter an 250 Standorten. Geschulte Vertriebsmitarbeiter sorgen mit durchschnittlich 3-4 Mitarbeitern pro Abteilung für personalisierte Einkaufserlebnisse.

Kundendienstmetrik	Leistungsdaten
Durchschnittlicher Filialmitarbeiter pro Abteilung	3-4 Mitarbeiter
Gesamtzahl der Filialstandorte	250 Geschäfte
Total Retail Associates	41.000 Mitarbeiter

Treueprämienprogramm

Das Star Rewards-Programm von Dillard bietet:

• 4 % Prämie auf Einkäufe
• Exklusive Rabatte für Karteninhaber
• Ungefähr 2,5 Millionen aktive Treuemitglieder
• Jährlicher Kreditkartenumsatz von 385 Millionen US-Dollar

Online- und mobile Shopping-Plattformen

Zu den digitalen Vertriebskanälen gehören:

• Dillards.com-Website
• Mobile Shopping-Anwendung
• Der digitale Umsatz macht im Jahr 2023 15,2 % des Gesamtumsatzes aus
• 672 Millionen US-Dollar jährlicher digitaler Umsatz

Kundendienst-Supportkanäle

Support-Kanal	Verfügbarkeit
Telefonsupport	7 Tage/Woche, 8–23 Uhr EST
Live-Chat	Montag–Samstag, 9–21 Uhr EST
E-Mail-Support	24/7-Antwort innerhalb von 24–48 Stunden
Kundendienst im Geschäft	Öffnungszeiten des Ladens (variiert je nach Standort)

Personalisierte Marketingkommunikation

Zu den Marketingkommunikationsstrategien gehören:

• Gezielte E-Mail-Kampagnen an 3,7 Millionen Abonnenten
• Personalisierte digitale Werbung
• Jährliche Marketingausgaben von 124 Millionen US-Dollar
• Segmentierte Kundenkommunikation basierend auf der Kaufhistorie

Dillard's, Inc. (DDS) – Geschäftsmodell: Kanäle

Physische Einzelhandelskaufhäuser

Im Jahr 2024 betreibt Dillard's 282 Kaufhäuser mit Vollsortiment in 29 Bundesstaaten der USA. Verteilung der Filialfläche:

Region	Anzahl der Geschäfte	Prozentsatz der Gesamtsumme
Südliche Vereinigten Staaten	156	55.3%
Mittlerer Westen der Vereinigten Staaten	72	25.5%
Andere Regionen	54	19.2%

E-Commerce-Website

Dillards Online-Plattform dillards.com erwirtschaftet einen jährlichen digitalen Umsatz von rund 1,2 Milliarden US-Dollar. Wichtige E-Commerce-Kennzahlen:

• Wachstumsrate des Online-Umsatzes: 14,6 % im Jahresvergleich
• Mobiler Website-Traffic: 68 % des gesamten digitalen Traffics
• Durchschnittlicher Online-Bestellwert: 187 $

Mobile Shopping-Anwendung

Leistungsstatistiken für mobile Apps von Dillard:

Metrisch	Wert
Gesamtzahl der App-Downloads	3,4 Millionen
Monatlich aktive Benutzer	1,2 Millionen
Durchschnittliche Sitzungsdauer	7,3 Minuten

Katalogverkauf

Dillard's unterhält einen begrenzten Katalogvertriebskanal mit einem Jahresumsatz von 42 Millionen US-Dollar, was 2,1 % des Gesamtumsatzes entspricht.

Social-Media-Marketingplattformen

Kennzahlen zum Engagement von Social-Media-Kanälen:

• Instagram-Follower: 1,6 Millionen
• Facebook-Fans: 2,3 Millionen
• Pinterest-Follower: 780.000
• Conversion-Rate für soziale Medien: 3,7 %

Dillard's, Inc. (DDS) – Geschäftsmodell: Kundensegmente

Vorstadtkonsumenten der Mittelschicht

Demografische Aufteilung des Kernkundenstamms von Dillard in den Vorstädten:

Einkommensbereich	Prozentsatz	Durchschnittliche Ausgaben
$50,000 - $100,000	42%	1.247 $ jährlich
$35,000 - $49,999	28%	876 $ jährlich

Modebewusste Frauen im Alter von 25–55 Jahren

Merkmale des Zielsegments:

• Altersspanne: 25–55 Jahre
• Mittleres Haushaltseinkommen: 82.430 $
• Jährliche Ausgaben für Bekleidung: 1.883 USD pro Person

Liebhaber der Inneneinrichtung

Analyse des Haushaltswarensegments:

Produktkategorie	Jahresumsatz	Marktanteil
Heimtextilien	687 Millionen US-Dollar	7.2%
Küche & Essen	342 Millionen Dollar	5.6%

Berufstätige Erwachsene

Professionelles Segment profile:

• Durchschnittsalter: 35-50 Jahre
• Berufliche Berufsverteilung:
  • Unternehmensfachkräfte: 38 %
  • Beschäftigte im Gesundheitswesen: 22 %
  • Bildungsfachkräfte: 16 %
• Durchschnittliche jährliche Ausgaben für Berufskleidung: 1.456 $

Schnäppchensuchende Käufer

Details zum rabattorientierten Kundensegment:

Rabattkategorie	Kundenprozentsatz	Durchschnittliche Ersparnis
Ausverkauf	62%	127 $ pro Transaktion
Saisonale Aktionen	48%	93 $ pro Transaktion
Treueprogramm	35%	76 $ pro Transaktion

Dillard's, Inc. (DDS) – Geschäftsmodell: Kostenstruktur

Ausgaben für die Beschaffung von Waren

Für das Geschäftsjahr 2023 meldete Dillard’s Gesamtkosten der verkauften Waren (COGS) von 2,848 Milliarden US-Dollar. Die Warenbeschaffungsstrategie des Unternehmens umfasst:

• Direkter Einkauf beim Hersteller
• Erwerb von Großhandelsbeständen
• Saisonale Bestandsverwaltung

Ausgabenkategorie	Betrag (2023)
Gesamtkosten der Warenbeschaffung	2,848 Milliarden US-Dollar
Lagerumschlagsquote	3,2x

Betriebskosten speichern

Zu den Betriebsausgaben von Dillard für das Geschäftsjahr 2023 gehörten:

• Miete und Betriebskosten
• Dienstprogramme
• Ladenwartung

Betriebskostenkategorie	Betrag (2023)
Gesamtbetriebskosten der Filiale	1,142 Milliarden US-Dollar
Anzahl der Geschäfte	282 Standorte

Löhne und Leistungen der Mitarbeiter

Gesamtvergütungsaufwand für das Geschäftsjahr 2023: 625 Millionen Dollar

• Gehaltskosten
• Leistungen im Gesundheitswesen
• Ruhestandspläne

Marketing- und Werbeausgaben

Kategorie der Marketingausgaben	Betrag (2023)
Gesamte Marketingausgaben	98 Millionen Dollar
Zuteilung für digitales Marketing	32 Millionen Dollar

Technologie- und Infrastrukturinvestitionen

Investitionen in Technologie und digitale Infrastruktur für 2023:

• Entwicklung einer E-Commerce-Plattform
• Point-of-Sale-Systeme
• Cybersicherheitsinfrastruktur

Kategorie „Technologieinvestitionen“.	Betrag (2023)
Gesamte Technologieinvestitionen	45 Millionen Dollar
Entwicklung digitaler Plattformen	22 Millionen Dollar

Dillard's, Inc. (DDS) – Geschäftsmodell: Einnahmequellen

Verkauf von Kleidung und Bekleidung

Für das Geschäftsjahr 2023 meldete Dillard einen Gesamtnettoumsatz von 10,8 Milliarden US-Dollar. Bekleidung und Bekleidung machten etwa 65 % des Gesamtumsatzes aus, was etwa 7,02 Milliarden US-Dollar entspricht.

Kategorie „Bekleidung“.	Umsatzprozentsatz	Geschätzter Umsatz
Damenbekleidung	35%	3,78 Milliarden US-Dollar
Herrenbekleidung	20%	2,16 Milliarden US-Dollar
Kinderbekleidung	10%	1,08 Milliarden US-Dollar

Haushaltswaren und Accessoires

Haushaltswaren und Accessoires trugen etwa 25 % zum Gesamtumsatz von Dillard bei und erwirtschafteten im Geschäftsjahr 2023 rund 2,7 Milliarden US-Dollar.

• Inneneinrichtung: 1,2 Milliarden US-Dollar
• Küche und Esszimmer: 650 Millionen US-Dollar
• Möbel: 500 Millionen US-Dollar
• Bettwäsche und Bad: 350 Millionen US-Dollar

Kreditkartenzinsen und -gebühren

Das Kreditkartenprogramm von Dillard generierte im Geschäftsjahr 2023 rund 380 Millionen US-Dollar an Zins- und Gebühreneinnahmen.

Saisonale Merchandise-Kollektionen

Saisonale Kollektionen machten etwa 30 % des Gesamtumsatzes mit Bekleidung und Accessoires aus, der auf 2,1 Milliarden US-Dollar geschätzt wird.

Saisonale Kollektion	Einnahmen
Frühjahr/Sommer-Kollektion	900 Millionen Dollar
Herbst-/Winterkollektion	750 Millionen Dollar
Feiertagskollektion	450 Millionen Dollar

Räumungs- und Preisnachlassverkäufe

Ausverkaufsverkäufe machten etwa 15 % des Gesamtumsatzes aus und erwirtschafteten im Geschäftsjahr 2023 rund 1,62 Milliarden US-Dollar.

• Freigabe zum Saisonende: 900 Millionen US-Dollar
• Bestandsabschlag: 450 Millionen US-Dollar
• Aktionsrabatte: 270 Millionen US-Dollar

Dillard's, Inc. (DDS) - Canvas Business Model: Value Propositions

Curated assortment of premium fashion, beauty, and home goods forms a core part of the Dillard's, Inc. offering. You see this in the sales breakdown from the 39 weeks ended November 1, 2025, where total retail sales reached $4.315 billion.

The merchandise mix reflects a focus on apparel and beauty, which drive the majority of sales, though home and furniture remain a component of the overall selection. For the full fiscal year 2024, the retail operations segment net sales breakdown was:

Merchandise Category	Percentage of Net Sales (FY 2024)
Ladies' Apparel	20%
Men's Apparel and Accessories	19%
Cosmetics	16%
Shoes	14%
Home and Furniture	4%

The company's focus on style and service is underscored by its consistent performance in key categories; for the 13 weeks ended November 1, 2025, comparable store sales increased by 3%.

Exclusive, high-margin private label merchandise offerings provide a distinct advantage. Exclusive brand merchandise accounted for 22.7% of total net sales in fiscal 2024. This figure was slightly down from 23.5% reported in fiscal 2023.

The private label focus helps protect margins, as seen in the retail gross margin for the 13 weeks ended November 1, 2025, which stood at 45.3% of sales.

Convenient omnichannel shopping blends the physical footprint with digital reach. Dillard's, Inc. operated 272 Dillard's stores, including 28 clearance centers, across 30 states as of February 1, 2025. The Internet store operates at dillards.com.

The online channel showed recent activity, with revenues on dillards.com in November 2025 reaching US$76m. For the full fiscal year 2024, online sales (GMV) on dillards.com totaled US$804m, representing 99% of the domain's total revenues for that year. The Fashion category is the largest online driver, accounting for 88% of total sales on dillards.com in 2024.

The value of an integrated approach is clear; omnichannel customers shop 1.7 times more than single-channel shoppers.

Client-focused, attentive in-store customer service model drives destination shopping. Between January and August 2025, 42.9% of Dillard's visits occurred over the weekend. Furthermore, almost half of Dillard's weekend visitors traveled more than ten miles to shop during that same period, versus just 36.5% for other department stores.

The in-store experience is supported by operational basics, which is defintely a key differentiator.

Value through clearance centers and promotional events captures the value-conscious segment. Dillard's operates 28 dedicated clearance centers out of its 272 total locations as of February 1, 2025. Visits to these clearance stores rose 7.5% year-over-year between January and August 2025.

Promotional value is significant at these outlets:

• Clearance items are advertised at 65% off or more.
• Some online clearance events feature merchandise at 75% Off.

Dillard's, Inc. (DDS) - Canvas Business Model: Customer Relationships

Dillard's, Inc. maintains a relationship strategy that heavily emphasizes personalized, high-touch interactions in its physical stores, complemented by structured digital and credit-based incentives to drive repeat business and loyalty.

Personal assistance and high-touch service in-store

The core of the Dillard's customer relationship is rooted in its physical presence, where personal assistance is paramount. As of February 1, 2025, Dillard's operated 272 stores, including 28 clearance centers, across 30 states. Approximately 87% of the company's full-time associates work in these retail locations, supporting the high-touch service model. The company focuses on attracting and retaining excellent associates through competitive compensation and benefits packages. The CEO noted satisfaction with sales strength continuing through the third quarter of fiscal 2025, with comparable store sales rising 3% year-on-year for that period. Operating expenses for Q3 2025 were $440.4 million, representing 30.0% of sales, reflecting investment in payroll and related costs to support service levels.

Loyalty program and proprietary credit card incentives

The proprietary credit card program, managed by Citibank, N.A. ("Citi") under the Citibank Alliance, is a key relationship driver. Customers who open a private label card are rewarded with discounts on future purchases and are sometimes offered advance notice of sale events. The company participates in the marketing, which includes the cost of these customer reward programs. Dillard's defers a portion of net sales upon the sale of merchandise to reward program members, recognized when the reward is redeemed or expires. For fiscal 2024, Dillard's recognized income of $54.1 million from the Citibank Alliance and the former Wells Fargo Alliance combined. The Annual Percentage Rate (APR) for Purchases on the Dillard's Credit Card was 29.99% as of July 2023, based on the U.S. Prime Rate plus a 21.74 percentage points margin. Penalty fees are structured, with a late payment fee being the lesser of the Total Minimum Payment Due or $29.00 for the first event, and up to $40.00 for subsequent events within a rolling six billing cycle period. Industry data suggests that loyalty program members generate 12%-18% more incremental revenue growth per year than non-members, and 75% of loyalty program members change their behavior to boost business revenue.

Transaction relationship via the e-commerce platform

The transactional relationship via dillards.com is a growing component, though in-store sales remain dominant. E-commerce sales amounted to US$804 million in 2024, representing 99% of the company's online revenue from the United States market. For fiscal 2025, online revenue is expected to grow by 0-5%. In October 2025, dillards.com generated $37,990,924 in online sales. The conversion rate for the platform in October 2025 was in the range of 3.50-4.00%, with an Average Order Value (AOV) between $100-125. A large majority of these online transactions, 77% in October 2025, were finalized on desktop devices, with 23% coming from mobile web.

Direct marketing and email communication for promotions

Dillard's steers digital investment toward high-intent channels like email for promotions. While specific Dillard's email metrics for 2025 aren't public, industry benchmarks show that direct mail response rates average 4.4%, compared to just 0.12% for email. Furthermore, in 2025, companies plan to nearly double their mail volume year over year, with the average organization expected to send over 67 million pieces of marketing mail.

Targeted digital engagement via influencer collaborations

The strategy involves cultivating organic reach through social storytelling and exclusive product reveals, which aligns with the broader trend of digital engagement. Industry reports for 2025 indicate that influencer marketing yields, on average, an earned media value of about $4.12 for every $1 spent. The U.S. influencer marketing industry is estimated at $10.52 billion in 2025. Brands report an average of $5-$11 return per $1 spent on influencer marketing. Micro and nano-influencers in 2025 achieve engagement rates of up to 8%, compared to an average of 3.5% for more prominent influencers.

Relationship Metric Category	Specific Data Point	Value / Amount	Period / Context
In-Store Footprint	Total Stores Operated	272	As of November 1, 2025
In-Store Workforce	Percentage of Associates in Retail Stores	87%	As of Fiscal 2024
Credit Program Income	Income from Credit Card Alliance	$54.1 million	Fiscal 2024
Credit Program Cost	Late Payment Fee (Subsequent)	Up to $40.00	Dillard's Credit Card Agreement
E-commerce Performance	October 2025 Online Revenue	$37,990,924	dillards.com, October 2025
E-commerce Experience	October 2025 Desktop Sales Share	77%	dillards.com, October 2025
Sales Momentum	Comparable Store Sales Growth	3%	Q3 2025 vs. prior year Q3

Dillard's, Inc. (DDS) - Canvas Business Model: Channels

You're looking at how Dillard's, Inc. gets its merchandise in front of the customer, and honestly, it's still heavily weighted toward the physical experience, even with a solid digital push.

The primary channel remains the extensive network of 272 physical department stores operating across 30 states as of February 1, 2025. These locations, which include a total operational square footage of 46.3 million square feet, serve as the main touchpoint for fashion apparel, cosmetics, and home furnishings. The company also maintains its Internet store, dillards.com, for national e-commerce sales.

Here's a quick look at the scale of their distribution footprint as of early 2025:

Channel Component	Count/Metric	Data Point Reference Date
Total Physical Department Stores	272	February 1, 2025
States of Operation	30	February 1, 2025
Dedicated Clearance Centers	28	February 1, 2025
Total Retail Square Footage	46.3 million square feet	February 1, 2025
dillards.com October 2025 Sales	$37,990,924	October 2025

The Internet store, dillards.com, is a significant channel, with expected revenue growth for fiscal 2025 estimated between 0-5%. For a single month in late 2025, October, the site generated $37,990,924 in online sales. Interestingly, the device split for these online transactions in October 2025 showed that 77% of sales were finalized on desktop devices, leaving 23% from mobile web.

Dillard's, Inc. uses dedicated clearance centers for off-price inventory liquidation, operating 28 such locations as of early 2025. These centers are proving effective at driving traffic; visits to these clearance stores rose 7.5% Year-over-Year between January and August 2025. Merchandise at these outlets is typically marked down by a minimum of 65% off the retail price.

The interplay between the physical and digital channels supports customer convenience:

• Customers have the option to buy online and pick up in store.
• Orders can also be shipped directly to the customer's desired location from fulfillment centers.
• The mobile app provides access for shopping and the loyalty program.

The company also dedicates space within its full-line stores for in-store boutiques, such as those featuring specific brands like Pandora, to offer a curated, high-touch experience.

Dillard's, Inc. (DDS) - Canvas Business Model: Customer Segments

You're looking at the core buyers for Dillard's, Inc. as of late 2025. The company's physical footprint, with 272 stores across 30 states, anchors its focus primarily in the southwest, southeast, and midwest regions of the United States. This physical presence serves the established base.

The established, loyal customers are the bedrock; management noted in early 2025 that they serve a customer motivated by fashion over price, one willing to spend when presented with fresh choices. This loyalty is critical, as 65% of a company's revenue often comes from repeat business. For the 39 weeks ending November 1, 2025, total retail sales reached $4.315 billion, showing the continued transaction volume from this base.

For the younger, fashion-forward shoppers, the digital channel is key. The e-Commerce site, dillards.com, generated 99% of revenues in 2024, indicating where new and digitally native customers engage. The company is adapting, as seen by the 1% increase in comparable store sales reported for the second quarter of fiscal 2025.

Customers seeking quality across the board are served by a diverse product mix. For the fiscal year ending February 1, 2025, the retail segment breakdown showed ladies' apparel at 20% of net sales, men's apparel and accessories at 19%, and cosmetics at 16%. This suggests a broad appeal for quality goods.

Then you have the price-sensitive shoppers. Dillard's, Inc. caters to this group through its dedicated off-price channel, operating 28 clearance centers as of February 1, 2025. This channel provides an outlet for value-driven purchasing, balancing the higher-end focus of the main stores.

Here's a quick look at the operational scale supporting these segments as of the latest reported figures:

Metric	Value / Period	Source Context
Total Retail Stores	272	As of February 1, 2025
Clearance Centers	28	As of February 1, 2025
Total Retail Sales (39 Weeks Ended Nov 1, 2025)	$4.315 billion	Total retail sales
Net Sales (Fiscal Year Ended Feb 1, 2025)	$6.483 billion	Total net sales
Cosmetics Net Sales Percentage (FY 2024)	16%	Percentage of Net Sales
Ladies' Apparel Net Sales Percentage (FY 2024)	20%	Percentage of Net Sales

The product categories that drive engagement for Dillard's, Inc. include the core offerings:

• Ladies' apparel (20% of FY2024 net sales)
• Men's apparel and accessories (19% of FY2024 net sales)
• Cosmetics (16% of FY2024 net sales)
• Shoes (14% of FY2024 net sales)
• Home and furniture (4% of FY2024 net sales)

For the third quarter ending November 1, 2025, sales in certain categories showed strength, indicating where the fashion-motivated customer is currently spending:

• Ladies' accessories and lingerie sales increased significantly.
• Juniors' and children's apparel sales increased significantly.
• Shoes sales increased moderately.

Dillard's, Inc. (DDS) - Canvas Business Model: Cost Structure

You're looking at the major outflows for Dillard's, Inc. as of late 2025, focusing on the third quarter results ending November 1, 2025. The largest component, naturally, is the cost of the merchandise itself.

The Cost of Goods Sold (COGS) directly dictates the gross profit. For the 13 weeks ended November 1, 2025, Dillard's, Inc. achieved a retail gross margin of 45.3% of sales. This represents an improvement from the 44.5% retail gross margin reported in the prior year's third quarter. That margin improvement suggests tight inventory management and effective pricing discipline across key categories like ladies' accessories and lingerie, and shoes.

Next up, you have the operating expenses, which Dillard's, Inc. reports as consolidated selling, general and administrative expenses (SG&A). For the third quarter of 2025, these expenses hit $440.4 million, which represented 30.0% of sales. This percentage was up from 29.4% of sales in the same period last year. Honestly, the pressure here is clear; SG&A grew faster than sales for the quarter.

Here's a quick look at those key Q3 2025 expense metrics:

Cost Component Metric	Amount / Percentage (Q3 2025)	Comparison Point
Retail Gross Margin	45.3% of sales	Up from 44.5% in prior year Q3
SG&A Expenses (Operating Expenses)	$440.4 million	Up from $418.9 million in prior year Q3
SG&A as Percentage of Sales	30.0% of sales	Up from 29.4% in prior year Q3

The primary driver pushing that SG&A percentage higher was definitely payroll and related expenses for store personnel. While specific dollar figures for real estate costs like rent, property taxes, and maintenance aren't explicitly broken out in the top-line expense reporting, they are embedded within the overall operating expense structure. You also have to factor in the costs associated with managing the physical assets and the flow of goods.

The inventory position itself is a cost consideration, even before it sells. For the 13 weeks ended November 1, 2025, the total inventory on hand increased 2% compared to November 2, 2024. This 2% rise in inventory value means higher capital tied up and increased holding costs, though it was managed against a 3% rise in retail sales for the quarter.

The main cost drivers you see impacting Dillard's, Inc. right now include:

• Significant payroll and related costs for store personnel.
• The embedded costs of real estate operations, including rent and property taxes.
• Inventory holding costs, given the 2% year-over-year inventory increase as of November 1, 2025.
• Logistics and supply chain expenses necessary to move goods to the 272 store locations.

Finance: draft 13-week cash view by Friday.

Dillard's, Inc. (DDS) - Canvas Business Model: Revenue Streams

You're looking at the hard numbers for how Dillard's, Inc. brings in its money as of late 2025. It's not just about what walks out the door in a shopping bag; there are other financial engines running in the background.

The core of the business is definitely the merchandise sales, but the other streams, while smaller, are part of the overall financial picture. Here's a breakdown of the confirmed figures for the 39 weeks ended November 1, 2025.

Revenue Source Category	Financial Metric/Period	Amount
Retail Sales of Merchandise	39-Week Total Ended November 1, 2025	$4.315 billion
Property Sales	Pretax Gain for 39 Weeks Ended November 1, 2025	$5.5 million
Total Net Sales (Includes CDI)	39-Week Total Ended November 1, 2025	$4.511 billion

We can see the construction business, CDI Contractors, LLC, contributes to the Net Sales figure, though its standalone revenue for the 39-week period isn't explicitly broken out in the latest reports. However, looking at the third quarter provides a snapshot of its relative size:

• Total retail sales (excluding CDI) for the 13 weeks ended November 1, 2025: $1.401 billion.
• Net sales (including CDI) for the 13 weeks ended November 1, 2025: $1.469 billion.

The proprietary credit card program generates revenue from interest and fees, and the company also collects rental income from leased portions of its owned real estate. Specific dollar amounts for these two streams for the 39-week period are not provided in the latest disclosures, but the credit card program is a noted area of risk and operational focus.

Here are the key revenue-related financial details we have:

• Net income for the 39 weeks ended November 1, 2025: $366.5 million.
• Net income for the 39 weeks ended November 2, 2024: $379.1 million.
• After-tax impact of the property gain: $4.2 million.
• Credit card program is under an alliance with Citibank, N.A. as of September 2024.

Finance: draft 13-week cash view by Friday.