Profits, as well as debts, doubled during the s. Interest rates began to rise in the early s, but the company continued to return considerable profits, so much so that the stock split twice during that decade. Louis and Kansas City, Missouri, in During the next two years, inroads were made into Ohio by the purchase of a half interest in the Higbee Department Stores, and in Florida, North Carolina, and South Carolina with the procurement of twenty-three J.
Ivey stores. Instead, the company focused on construction and expansion of existing stores. The largest acquisition came in , with the purchase of stores from Mercantile Store Company, Inc. At the beginning of the twenty-first century, after the Mercantile acquisition, the company began to post low profits for the first time in its history, which caused some panic among investors, coupled with uncertainty brought on by the greater overall national and global economic recession.
In an effort to rebound, the company cut operating costs, sold off underperforming stores, and ridded itself of non-core operations. The company also faced shareholder disapproval over family ownership and special treatment, active insider trading issues, and ongoing discrimination lawsuits.
Dillard died on February 8, , at the age of eighty-seven. From a small department store in Nashville, he helped build one of the fastest-growing department store chains in the United States. In late , the U. Rosenberg, Leon Joseph. Fayetteville: University of Arkansas Press, Honor or memorial gifts are an everlasting way to pay tribute to someone who has touched your life.
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