Sunday, May 18, 2014

Mall at University Town Center Dillard’s to be first opening in years

LAS VEGAS--When Dillard’s opens inside the Mall at University Town Center this fall, it will mark the first store opening in years for the Arkansas department store.

The University Park location and one planned in Las Vegas will be the only Dillard’s to open this year, and in several years, according to a retail and restaurant expansion guide by Cassidy Turley. 

The 180,000-square-foot department store will join Macy’s and Saks Fifth Avenue as anchors in the Taubman Centers-managed mall Oct. 16. The Las Vegas Dillard's will open the same month.

The company closed six locations in 2013, according to the report, as the Little Rock, Ark., company reevaluates smaller, under-performing stores. Dillard's closed a 64,000-square-foot store, a 90,000-square-foot store and a 195,000-square-foot store last year, according to the company's annual report.

Dillard’s left the DeSoto Square mall 2009 and it’s uncertain if the Sarasota location at the Westfield Southgate Mall will shutter in favor of the newer store. For comparison, the Southgate Dillard's is about 97,000 square feet. A Hudson's Furniture store will be replacing the DeSoto Square Dillard's this summer.

The company saw a 2 percent increase in store sales during the first quarter, marking the 15th consecutive quarter of increased sales, CEO William Dillard II stated in the company’s earnings statement.

Sales were strongest during the first quarter for men’s apparel and accessories while home and furniture sales lagged, according to the earnings report.

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