Word: dillard
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Perched atop a ladder, his hardhat glinting under the spotlight, steel worker Mike Dillard (Michael A. Barron ’11) confesses, “Non-recognition by other people, it bothers you sometimes.” The steelworker’s powerful monologue is the first of many in “Working: The Musical,” written by Stephen Schwartz—the composer of “Wicked” and “Godspell”—and various other artists...
However, department stores, such as Macy's, Dillard's, Bon-Ton Stores, JC Penney, Neiman Marcus, Nordstrom and Saks, will likely be squeezed to bring in the biggest markdowns as these retailers typically rely on the holiday season to generate between 45% and 50% of their operating profits, says Karen Ghaffari, a managing director at Fitch Ratings...
What retailers do have is employees, and at this point way too many of them. Dillard's (DDS), which is not one of the largest retailers, lost 19% of its same-store sales last month. The company has 33,000 employees which means that it is not much smaller than Chrysler's US car operation. Rite Aid has 4,900 stores and it is in real trouble. If Rite Aid faced bankruptcy it would cause unemployment problems, but it could also trigger a destructive chain of events in the real estate industry by defaulting on store leases at locations...
...senator from Alton, explaining his vote to toss the governor. He was the first senator to go on record after Blagojevich spoke, and the fact that he's a fellow Democrat indicated that the die was cast. "I wish him luck on his new Hollywood career," added Republican Kirk Dillard of Hinsdale. (See the top 10 scandals...
...smaller to midsize cities are already under pressure, but some have an extra heap of woe. Women's retailer Bon-Ton faces a double challenge: softening sales and a mountain of debt resulting from its $1 billion buyout of 142 stores from Saks two years ago. Even powerhouse Dillard's, with stores spread across 29 states, is raising anxiety owing to weakening sales, down 10% for the quarter. In early November, Standard & Poor's lowered its corporate credit rating of Dillard's to B+ from BB-, citing the "deepening spending pull-back by consumers." Adding to the drama, hedge-fund...