Misplaced Pages

#147852

56-488: Leonard's Department Store opened on the site on February 12, 1963. In 1967, the Tandy Corporation bought the chain of department stores. As the corporation grew, it needed a new headquarters and so it demolished the department store in 1974 and constructed its headquarters on the site. The new Tandy Center included two office towers as well as a mall with an indoor ice skating rink. The mall was anchored by Dillard's . In

112-553: A "speed bump", which is also present on the IEX. The exchange grew out of the loosely organized curb market of curbstone brokers on Broad Street in Manhattan . Efforts to organize and standardize the market started early in the 20th century under Emanuel S. Mendels and Carl H. Pforzheimer . The curb brokers had been kicked out of the Mills Building front by 1907, and had moved to

168-503: A competing stock exchange IEX (which operated with a 350-microsecond delay in trading), gained approval from the SEC , despite lobbying protests by the NYSE and other exchanges and trading firms. On July 24, 2017, the NYSE renamed NYSE MKT to NYSE American, and announced plans to introduce its own 350-microsecond "speed bump" in trading on the small and mid-cap company exchange. Past presidents of

224-604: A department store in Texarkana, Arkansas , initially as the minority partner in Wooten & Dillard. In 1956, Dillard led an investment group that acquired the Mayer & Schmidt store in Tyler, Texas . This store eventually took on the name "Dillard's Mayer & Schmidt" until 1974, when it was replaced with a mall-based location south of downtown Tyler. In 1960, Dillard acquired and turned around

280-507: A division of Federated Department Stores ; the stores were rebranded as Dillard's in 1972. In 1974, five Leonard's stores were acquired in Fort Worth , and a commitment to open a new downtown Fort Worth store at the Tandy Center , the site of the original Leonard's. Also in 1974, the former Brown-Dunkin, Blass, Pfeifer and Mayer & Schmidt stores were fully renamed Dillard's. In the 1980s,

336-610: A few blocks away on the Trinity River. The new owner renamed the complex City Place. The former shopping mall was demolished in 2011, making way for a new garage with retail on the ground floor. As of 2021, City Place includes two multi-story buildings on opposite sides of Throckmorton Street, connected by a pedestrian skyway . The structures are made up principally of office and parking space. 32°45′18″N 97°20′03″W  /  32.75510°N 97.33425°W  / 32.75510; -97.33425 Dillard%27s Dillard's, Inc.

392-919: A former Lord & Taylor store at Oak Court Mall in Memphis, Tennessee and three Belk-Lindsey stores in Florida (Gulf View, DeSoto, and Eastlake). Except for two Belk of Columbia stores that were acquired in 1995, acquisitions were eschewed for a couple of years until early 1997 with the purchase of 15 stores—10 Mervyn's boxes in Florida and five southern Virginia stores from Proffitt's that were acquired from Hess's in 1993. The Mervyn's deal included five purchased from Lord & Taylor in 1991: Cutler Ridge Mall (1982), Coral Square (1984), Miami International Mall , Boynton Beach Mall (both 1985), and Treasure Coast Square (1987). Three additional stores were acquired from Jordan Marsh in 1992: Pompano Fashion Square (1970), Broward Mall (1978), and Melbourne Square (1983), and

448-653: Is an American department store chain with approximately 267 stores in 29 states and headquartered in Little Rock, Arkansas . Currently, the largest number of stores are located in Texas with 57 and Florida with 42. The company also has stores in 27 more states; however, it is absent from the Northeast ( Washington, D.C. , and northward), most of the Upper Midwest (particularly Michigan , Wisconsin , and Minnesota ), and most of

504-598: Is an easy way to buy all of the brand-specific items at a cheaper, more economical price. The hours may vary a little bit by store or holiday; however, the generic hours of a Clearance Center are Tuesday through Saturday from 12 pm to 7 pm and Sunday from 12 pm to 6 pm. On Mondays, the Clearance Centers are closed for the restocking of the Clearance items. On a week-to-week basis, each Dillard's Clearance Center receives further markdowns by each department; older merchandise

560-674: Is marked down to an amount ending in "99 cents," representing a 65% discount. American Stock Exchange NYSE American , formerly known as the American Stock Exchange ( AMEX ), and more recently as NYSE MKT , is an American stock exchange situated in New York City. AMEX was previously a mutual organization , owned by its members. Until 1953, it was known as the New York Curb Exchange . NYSE Euronext acquired AMEX on October 1, 2008, with AMEX integrated with

616-526: The Alternext European small-cap exchange and renamed the NYSE Alternext U.S. In March 2009, NYSE Alternext U.S. was changed to NYSE Amex Equities . On May 10, 2012, NYSE Amex Equities changed its name to NYSE MKT LLC . Following the SEC approval of competing stock exchange IEX in 2016, NYSE MKT rebranded as NYSE American and introduced a 350-microsecond delay in trading, referred to as

SECTION 10

#1732851126148

672-523: The American Stock Exchange . The chain then expanded rapidly as an anchor in suburban shopping malls , and took advantage of market conditions to acquire smaller chains and its ability to turn around locations that other companies could not operate profitably. Expansion of the Dillard's chain increased rapidly during the 1970s, mainly through expanding into new malls being built in smaller cities in Texas . In 1971, five Texas units were acquired from Fedway,

728-855: The Philadelphia Stock Exchange . This product was short-lived after a lawsuit by the Chicago Mercantile Exchange was successful in stopping sales in the United States. In 1990, a similar product, Toronto Index Participation Shares, which tracked the TSE 35 and later the TSE 100 indices, started trading on the Toronto Stock Exchange (TSE) in 1990. The popularity of these products led the American Stock Exchange to try to develop something that would satisfy regulations by

784-598: The U.S. Securities and Exchange Commission . Nathan Most and Steven Bloom, under the direction of Ivers Riley, designed and developed Standard & Poor's Depositary Receipts ( NYSE Arca : SPY), which were introduced in January 1993. Known as SPDRs or "Spiders", the fund became the largest ETF in the world. In May 1995, State Street Global Advisors introduced the S&;P 400 MidCap SPDRs ( NYSE Arca : MDY). Barclays , in conjunction with MSCI and Funds Distributor Inc., entered

840-518: The West Coast , aside from three stores in California . Dillard's is the outgrowth of a department store founded in 1938 by William T. Dillard ; its corporate headquarters remain located at the eastern edge of Little Rock 's Riverdale area and many of its executives and directors are members of the Dillard family. The family retains control of the company through its ownership of Class B Common Stock;

896-464: The 1990s the mall began to decline and the anchor tenant moved out in 1995. It was turned into an outlet store shopping center with hopes of it revitalizing Downtown Fort Worth , but these efforts failed and the mall was shuttered in the 2000s. It has since been demolished. Originally built by the department store Leonard's as Leonard's M&O Subway , the Tandy Center Subway operated between

952-570: The 318 stores. Also in 2008, stores opened at both The Shops at Wiregrass and Pier Park in Florida . Dillard's also announced that it had completed a transaction to acquire the remaining fifty percent (50%) interest in CDI Contractors, LLC and CDI Contractors, Inc., which it did not already own. In late 2018, Dillard's announced a location would open in fall 2019 in Sioux Falls, South Dakota , at

1008-632: The 49,000,000 square feet (4,600,000 m ) it used for its business and retail operations. In March 2020, Dillard's attracted note in the press for keeping many of its 290 stores open during the coronavirus pandemic, with Dillard's stating "we are open with limited hours where not ordered to close by state or local government mandate." In April 2020, Dillard's closed around 200 out of its 285 stores in response to COVID-19. Its online store remained open. In May 2020, Dillard's had reopened all but two of its locations in Tampa Bay , according to its website at

1064-523: The American Exchange in November of that year. In 1977, Thomas Peterffy purchased a seat on the American Stock Exchange. Peterffy created a major stir among traders by introducing handheld computers onto the trading floor in the early 1980s. ETFs or exchange-traded funds had their genesis in 1989 with Index Participation Shares, an S&P 500 proxy that traded on the American Stock Exchange and

1120-642: The Class A common stock is publicly traded on the New York Stock Exchange . Dillard began his first store in Mineral Springs, Arkansas , in what was locally known as "the tater house". It was located across the street from the community's Methodist church. The building that housed the original store was torn down in the early 2000s. Dillard sold the original five and dime store in Nashville, Arkansas , to develop

1176-582: The Curb Exchange building at 86 Trinity Place was closed, and the Amex Equities trading floor was moved to the NYSE Trading floor at 11 Wall Street . 90 years after its 1921 opening, the old New York Curb Market building was empty but remained standing. In March 2009, NYSE Alternext U.S. was changed to NYSE Amex Equities. On May 10, 2012, NYSE Amex Equities changed its name to NYSE MKT LLC. In June 2016,

SECTION 20

#1732851126148

1232-703: The East Coast region, at 260,000 square feet (24,000 m ), was located in the MacArthur Center in downtown Norfolk, Virginia , closed in 2023. It announced construction of a new "flagship" store in Lubbock, TX on Nov 15th, 2022. This store will be 220,000 sq ft. The home store for the chain is in Little Rock ; the divided store is located in the trend-conscious Park Plaza Mall , one of the city's oldest continuously operating shopping centers in its midtown section. As of April 2020, Dillard's operated 28 clearance stores in

1288-527: The NYSE abolished its unlisted department, the NYSE stocks "made homeless by the abolition" were "refused domicile" by the curb brokers on Broad Street until they had complied with the "Curb list" of requirements. In 1911, Mendels and his advisers drew up a constitution and formed the New York Curb Market Association , which can be considered the first formal constitution of American Stock Exchange. In 1920, journalist Edwin C. Hill wrote that

1344-568: The New York Curb Market Association and is credited with moving the market indoors. George Rea was approached about the position of president of the New York Curb Exchange in 1939. He was unanimously elected as the first paid president in the history of the Curb Exchange. He was paid $ 25,000 per year (equivalent to $ 548,000 today ) and held the position for three years before offering his resignation in 1942. He left

1400-420: The United States. Dillard's Clearance Centers occupy 26 mall spaces throughout multiple states for the clearance stock of clothing from prior seasons. They are usually located within lower-income areas as the no longer high priced items are not as covetable for the general clientele Dillard's procures. The 265 regular department stores ship the clearance clothing at already 65% off to these Clearance Centers where

1456-940: The acquisition of Mercantile, Dillard's ceased expanding through acquisitions, although eight locations of the defunct Montgomery Ward in the Midwest, and four locations from ZCMI in Utah and Idaho were acquired in 2001, when stores opened at Chandler Fashion Center in Chandler, Arizona, The Mall at Stonecrest in Lithonia, Georgia , The Mall at Wellington Green in Wellington, Florida , International Plaza and Bay Street in Tampa, Florida , and The Shops at Willow Bend in Plano, Texas . In 2004, Dillard's store credit card operation, operated as Dillard's National Bank,

1512-672: The acquisition, NYSE Euronext announced that the AMEX would be integrated with the Alternext European small-cap exchange and renamed the NYSE Alternext U.S. The American Stock Exchange merged with the New York Stock Exchange (NYSE Euronext) on October 1, 2008. Post merger, the Amex equities business was branded "NYSE Alternext US". As part of the re-branding exercise, NYSE Alternext US was re-branded as NYSE Amex Equities. On December 1, 2008,

1568-535: The center and fringe parking lots from 1963 to 2002. When Leonard's was demolished the subway station was preserved and integrated into the new Tandy Center complex. In 2000, a tornado hit Fort Worth, causing damage to several downtown buildings including the Tandy Center. In 2001, the RadioShack Corporation sold the Tandy Center to another company, and made plans to construct a new corporate headquarters

1624-493: The clothing is then marked down further to liquidate the heaps of clothing and shoes. The Clearance Centers rival that of a Marshalls or TJ Maxx with unknown sizes or quantities of a specific item. However, all the clothing at Dillard's Clearance Centers are direct from the normal Dillard's Department Stores close to and surrounding the one outlet. The goods that are sent to these stores are including, but not limited to: overstocked, offseason, didn't sell well, or damaged. This

1680-696: The company purchased many local chains. In 1982, Dillard's leased three units of the defunct Lowenstein's chain in Memphis, Tennessee . In early 1984, Dillard's acquired 12 Stix, Baer & Fuller stores in St. Louis and Kansas City from Associated Dry Goods Corp. In fall 1984, two department store divisions were purchased from Dayton-Hudson Corporation : Diamond's and John A. Brown , with locations in Arizona , Nevada and Oklahoma . Twelve stores in Kansas and Missouri belonging to R. H. Macy & Co. 's Midwest Division, which

1736-471: The company released its second quarter report. It did not release "store comps relative to pandemic-dominated 2020; comparable store retail sales compared to 2019 rose 14%." After an $ 8.6 million net loss in August 2020, the company noted that it instead had made a net income in August 2021 of $ 185.7 million. For 2023 (for the 53 weeks ending 3 February 2024), Dillard's net income was $ 738.8 million. Net sales for

City Place - Misplaced Pages Continue

1792-562: The curb exchange on lower Broad Street was a "roaring, swirling whirlpool" that "tears control of a gold-mine from an unlucky operator, and pauses to auction a puppy-dog. It is like nothing else under the astonished sky that is its only roof." After a group of Curb brokers formed a real estate company to design a building, Starrett & Van Vleck designed the new exchange building on Greenwich Street in Lower Manhattan between Thames and Rector, at 86 Trinity Place. It opened in 1921, and

1848-473: The curbstone brokers moved indoors on June 27, 1921. In 1929, the New York Curb Market changed its name to the New York Curb Exchange. The Curb Exchange soon became the leading international stock market, and according to historian Robert Sobel , "had more individual foreign issues on its list than [...] all other American securities markets combined." Edward Reid McCormick was the first president of

1904-516: The exchange's first chief executive officer and its first salaried top executive. As chairman, Kolton oversaw the introduction of options trading . Kolton opposed the idea of a merger with the New York Stock Exchange while he headed the exchange saying that "two independent, viable exchanges are much more likely to be responsive to new pressures and public needs than a single institution". Kolton announced in July 1977 that he would be leaving his position at

1960-547: The execution of the sale then shouted back up to the brokerage. As of 1907, E. S. Mendels gave the brokers rules "by right of seniority", but the curb brokers intentionally avoided organizing. According to the Times , this came from a general belief that if a curb exchange was organized, the exchange authorities would force members to sell their other exchange memberships. However, in 1908 the New York Curb Market Agency

2016-576: The failing Brown-Dunkin store in Tulsa, Oklahoma . The success of this turnaround was followed in late 1963 by acquiring the Joseph Pfeifer store in Little Rock, Arkansas , and in early 1964 acquiring the other main store in Little Rock, Gus Blass Co. Dillard used this as an opportunity to relocate his headquarters to Little Rock. In 1969, Dillard and his investors took Dillard Department Stores, Inc., public on

2072-553: The first of their kind. In 1998, State Street Global Advisors introduced "Sector Spiders ", separate ETFs for each of the sectors of the S&P 500 Index . Also in 1998, the "Dow Diamonds" (NYSE Arca: DIA) were introduced, tracking the Dow Jones Industrial Average . In 1999, the influential "cubes" ( Nasdaq : QQQ), were launched, with the goal of replicate the price movement of the NASDAQ-100 . The iShares line

2128-646: The former Selber Bros. clothing department store chain, founded in 1907 in Shreveport , Louisiana, which also had a few locations in Texas. In 1988, Dillard's purchased the three-unit Miller & Paine chain in Lincoln , Nebraska , as well as more significantly, a half-interest and operational control of The Higbee Co. , based in Cleveland, Ohio , with partner Edward J. DeBartolo Corp. D. H. Holmes Co., Ltd., of New Orleans,

2184-669: The former Mercantile Stores to May Department Stores Co. and Saks Incorporated and traded an additional seven stores to Belk for nine of theirs in southern Virginia and Chattanooga, Tennessee . Overall this deal enabled Dillard's to enhance its position in several markets in the South, Midwest and Mountain states. Also in 1998, the chain entered California , opening its first store in a former Weinstock's at Weberstown Mall in Stockton, California . In 1999, Dillard's opened stores at Mall of Georgia and Arbor Place Mall near Atlanta . After

2240-757: The largest Dillard's store at 365,000 square feet (33,900 m ) is located at Scottsdale Fashion Square , an enclosed super-regional mall in Scottsdale, Arizona . Within the Dallas/Fort Worth area, the chain has two flagship stores with a 299,000-square-foot (27,800 m ) store at the Northpark Center in Dallas and a 310,000-square-foot (29,000 m ) store at the North East Mall in Hurst . Its flagship store in

2296-459: The location at The Galleria (1986) was not affected. The deal-making culminated with the purchase of Mercantile Stores Co., Inc., in 1998. The purchase of this Fairfield, Ohio-based department store company brought several chains, including Bacon's , Castner Knott , de Lendrecie's , Gayfers , Glass Block, Hennessy's , J.B. White , Joslins , Lion Store , Maison Blanche , McAlpin's , Root's and The Jones Store . Dillard's sold 26 stores of

City Place - Misplaced Pages Continue

2352-410: The market in 1996 with World Equity Benchmark Shares (WEBS) , which became iShares MSCI Index Fund Shares. WEBS originally tracked 17 MSCI country indices managed by the funds' index provider, Morgan Stanley . WEBS were particularly innovative because they gave casual investors easy access to foreign markets. While SPDRs were organized as unit investment trusts , WEBS were set up as a mutual fund ,

2408-468: The pavement outside the Blair Building where cabbies lined up. There they were given a "little domain of asphalt" fenced off by the police on Broad Street between Exchange Place and Beaver Street. As of 1907, the curb market operated starting at 10 AM, each day except Sundays, until a gong at 3 PM. Orders for the purchase and sale of securities were shouted down from the windows of nearby brokerages, with

2464-557: The position having "done such a good job that there is virtually no need for a full-time successor." In 1953 the Curb Exchange was renamed the American Stock Exchange. The exchange was shaken by a scandal in 1961, and in 1962 began a reorganization. Its reputation recently damaged by charges of mismanagement, in 1962 the American Stock Exchange named Edwin Etherington its president. Writes CNN , he and executive vice president Paul Kolton were "tapped in 1962 to clean up and reinvigorate

2520-617: The remaining interest in the Higbee's stores was acquired, as well as five Ohio stores from Horne's (as part of a legal settlement, Dillard's having canceled a 1988 deal to acquire the chain). Also in 1992, three stores from the Hess's chain liquidation (five other former Hess's were acquired in 1994), two E. M. Scarbrough 's locations in Austin, Texas , two Thalhimer's in South Carolina and Tennessee,

2576-488: The remaining two at Lakeland Square Mall (1986) and Pembroke Lakes Mall (1992). The Proffitt's conversion gave them two that were also taken over from Rices Nachmans in 1985 at Coliseum Mall (1973) and Pembroke Mall (1981), and three newly built stores Patrick Henry Mall , Greenbrier Mall (both 1987), and Chesapeake Square (1988). Three suburban Macy's stores in Houston at Willowbrook Mall , Deerbrook Mall (both 1984), and Baybrook Mall (1985) were absorbed while

2632-725: The same period were $ 6.75 billion. Operating expenses to 3 February 2024 were $ 1.77 billion. In March of 2024, Dillard’s opened their first location in the upper midwest in Sioux Falls, South Dakota, in the Empire Mall. In 2024, the company introduced "The Coterie Shop" a concept of online and conventional special occasion and casual clothing shops from Abbey Glass, Buru, Crosby by Mollie Burch and Fanm Mon. The Coterie Shop will be featured in Alabama , Arkansas , Arizona , Florida , Georgia , Kentucky , Louisiana , North Carolina , Oklahoma , South Carolina , Tennessee and Texas . The chain continues to expand and has recently added stores in non-traditional mall shopping centers. Currently,

2688-399: The scandal-plagued American Stock Exchange." As of 1971, it was the second largest stock exchange in the United States. Paul Kolton succeeded Ralph S. Saul as AMEX president on June 17, 1971, making him the first person to be selected from within the exchange to serve as its leader, succeeding Ralph S. Saul, who announced his resignation in March 1971. In November 1972, Kolton was named as

2744-558: The second locations being converted to a separate, expanded home and men's stores, a format that Dillard's utilized greatly, both to grow its store size cost-effectively and to prevent competitors from gaining valuable real estate. Additionally, the Joske's acquisition gave Dillard's entry into the Houston market. That same year, Dillard's co-founded CDI Contractors, a construction company that would help build, remodel, and repair most of its locations, with William "Bill" Clark and Braggs Electric Construction Company. Dillard's in 1988 acquired

2800-442: The site of the former Younkers in Empire Mall . By August 2020, it had not yet opened. In September 2019, Dillard's remained headquartered in Arkansas, with 260 "full-line" stores and 29 clearance centers. It had locations mostly in the South and Southwest of the United States, in 29 states overall. The company was also a significant owner of property in the United States, and it owned 44,300,000 square feet (4,120,000 m ) of

2856-415: The time. That week, management and Dillard's CEO, William Dillard II, informed its annual meeting that the company's first quarter had been the worst in its history, due to the coronavirus, saying Dillard's business had become "total chaos" by the end of April as a result. At the time, Dillard's had 257 department stores, and 28 clearance stores, and had reopened stores in 21 states or more. In August 2021,

SECTION 50

#1732851126148

2912-460: Was established, which developed appropriate trading rules for curbstone brokers, organized by Mendels. The informal Curb Association formed in 1910 to weed out undesirables. The curb exchange was for years at odds with the New York Stock Exchange (NYSE), or "Big Board", operating several buildings away. Explained the New York Times in 1910, the Big Board looked at the curb as "a trading place for 'cats and dogs.'" On April 1, 1910, however, when

2968-568: Was later dissolved in 2006, were acquired in early 1986, while the three-unit Hemphill-Wells company in West Texas was purchased in the summer. The stores at Sunset Mall in San Angelo and South Plains Mall in Lubbock were both converted, and the third in downtown Lubbock was closed. In 1987, Dillard's purchased 26 of Joske's 27 stores in Texas and Arizona and the four-unit Cain-Sloan chain in Nashville, Tennessee , from Allied Stores Corp. This deal gave Dillard's two major anchor locations at several malls in Texas and Arizona with many of

3024-399: Was launched in early 2000. By 2005, it had a 44% market share of ETF assets under management . Barclays Global Investors was sold to BlackRock in 2009. As of 2003, AMEX was the only U.S. stock market to permit the transmission of buy and sell orders through hand signals . In October 2008 NYSE Euronext completed acquisition of the AMEX for $ 260 million in stock. Before the closing of

3080-592: Was purchased in 1989, bringing 18 units primarily in Louisiana, as well two former Diamond's units in Tucson, Arizona . The Ivey's chain of 23 stores in Florida, North Carolina and South Carolina was acquired from BATUS in 1990. This was followed by Maison Blanche selling eight stores on Florida's Gulf Coast to them in 1991. The locations were at Tyrone Square Mall (1973), University Square Mall , WestShore Plaza (both 1974), Countryside Mall (1976), Southgate Plaza (1978), Edison Mall , Coastland Center (both 1985), and Lakeland Square Mall (1988). In 1992,

3136-565: Was sold to GE Money Bank . Customers can now be issued Dillard's/American Express cards as well as the traditional Dillard's store charge cards. These cards can be used at any store that accepts the American Express brand. In 2005, Dillard's opened stores at Perimeter Mall and Atlantic Station in Atlanta , Georgia as well as St. Johns Town Center in Jacksonville, Florida . In 2008, Dillard's closed their travel agency, Dillard's Travel, alongside all in-store locations due to economic conditions. Dillard's Travel previously operated in 43 of

#147852