狄乐百货 2024年度报告

Dear Shareholder, In fiscal 2024, we focused on serving our customers exceptionally while maintaining sound financialdiscipline in an environment that continues to change day by day. As we navigated weak consumersentiment during the year, we worked on presenting our customers with fashion excitement, newnessand exceptional service while remaining focused on gross margin performance and expense controlto protect our profitability. We achieved net income of $593 million during fiscal 2024 while reporting retail gross marginof 41.0% despite a comparable store sales decline of 3%. We generated cash flow from operationsof $714 million. With shareholder return remaining a high priority, we returned $535 million to ourshareholders in dividends and share repurchases. In January of 2025, we paid the largest specialdividend in our history of $25.00 per share, bringing our five-year shareholder return activity to$2.8 billion and underscoring our commitment to creating long-term value. We ended the year withover $1 billion in cash and short-term investments on a best-in-class balance sheet that serves asa testament to decades of sound financial decisions. Disruption in our industry and evolving consumer behaviors were continuing themes in 2024.Retailers reported mass store closures, bankruptcies and realignments, making it difficult to believe inthe future of our sector at all. But Dillard’s is different. As a team of approximately 29,000 associates,we serve a customer who is motivated by fashion over price – and generally willing to spend whenwe provide fresh, new and interesting choices in style, beauty and home. It is here where our vendorpartnerships are mission critical to our success. We are continually engaging with exceptional, high-profile brands to come alongside us in this effort. While the consumer environment remains uncertain, we rely on eight and a half decades of retailexperience to keep our focus on our customer while “managing the store,” and we are well-positionedto capitalize on opportunities as they arise. One of the beautiful things about fashion retailing isa fresh start every season, and we look forward to serving our customers, shareholders andassociates with the same dedication to excellence that has defined Dillard’s since 1938.Thank you for your continuing interest in Dillard’s. Warm regards, William Dillard, IIChairman of the Board &Chief Executive Officer Alex DillardPresident UNITED STATES SECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549FORM 10-K Securities registered pursuant to Section 12(g) of the Act:None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.☒Yes☐No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.☐Yes☒No Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during thepreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past90 days.☒Yes☐No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).☒Yes☐No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerginggrowth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of theExchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revisedfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control overfinancial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflectthe correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any ofthe registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the re