迪拉德百货 2025年度报告

FORM 11-K FOR ANNUAL REPORTS OF EMPLOYEE STOCK PURCHASE,SAVINGS AND SIMILAR PLANS PURSUANT TO SECTION 15(d) OF THESECURITIES EXCHANGE ACT OF 1934 ☒ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025OR ☐TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934 For the period fromto. Commission file number01-06140 A.Full title of the plan and the address of the plan, if different from that of the issuer named below:Dillard’s, Inc. Investment & Employee Stock Ownership PlanB.Name of issuer of the securities held pursuant to the plan and the address of its principalexecutive office:Dillard’s, Inc.1600 Cantrell RoadLittle Rock, Arkansas 72201 REQUIRED INFORMATION 1.An audited Statement of Net Assets Available for Benefits as of December 31, 2025 andDecember 31, 2024 for the Dillard’s, Inc. Investment & Employee Stock Ownership Plan,prepared in accordance with the financial reporting requirements of ERISA is attached.2.An audited Statement of Changes in Net Assets Available for Benefits for the year endedDecember 31, 2025 for the Dillard’s, Inc. Investment & Employee Stock Ownership Plan,prepared in accordance with the financial reporting requirements of ERISA is attached. Exhibits 23.1Consent of Grant Thornton LLP SIGNATURES The Plan.Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (orother persons who administer the employee benefit plan) have duly caused this annual report to be signedon its behalf by the undersigned hereunto duly authorized. Dillard’s, Inc. Investment & Employee StockOwnership Plan /s/ Michael I. DraperMichael I. DraperMember, Administrative Committee FINANCIAL STATEMENTSAND SUPPLEMENTAL SCHEDULEDecember 31, 2025 and 2024 DILLARD’S, INC. INVESTMENT & EMPLOYEESTOCK OWNERSHIP PLANLittle Rock, ArkansasFINANCIAL STATEMENTSAND SUPPLEMENTAL SCHEDULEDecember 31, 2025 and 2024CONTENTSREPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM1FINANCIAL STATEMENTSSTATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS3STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS4NOTES TO FINANCIAL STATEMENTS5SUPPLEMENTAL SCHEDULESCHEDULE H, PART IV, LINE 4i – SCHEDULE OF ASSETS (HELD AT END OFYEAR)12 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM Plan Administrator and Plan Participants Dillard’s, Inc. Investment & Employee Stock Ownership Plan Opinion on the financial statements We have audited the accompanying statements of net assets available for benefits of Dillard’s, Inc.Investment & Employee Stock Ownership Plan (the “Plan”) as of December 31, 2025 and 2024, therelated statement of changes in net assets available for benefits for the year ended December 31, 2025, andthe related notes (collectively referred to as the “financial statements”). In our opinion, the financialstatements present fairly, in all material respects, the net assets available for benefits of the Plan as ofDecember 31, 2025 and 2024, and the changes in net assets available for benefits for the year endedDecember 31, 2025 in conformity with accounting principles generally accepted in the United States ofAmerica. Basis for opinion These financial statements are the responsibility of the Plan’s management. Our responsibility is to expressan opinion on the Plan’s financial statements based on our audits. We are a public accounting firmregistered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and arerequired to be independent with respect to the Plan in accordance with the U.S. federal securities laws andthe applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audits in accordance with the standards of the PCAOB. Those standards require that weplan and perform the audit to obtain reasonable assurance about whether the financial statements are freeof material misstatement, whether due to error or fraud. The Plan is not required to have, nor were weengaged to perform, an audit of its internal control over financial reporting. As part of our audits we arerequired to obtain an understanding of internal control over financial reporting but not for the purpose ofexpressing an opinion on the effectiveness of the Plan’s internal control over financial reporting.Accordingly, we express no such opinion. Our audits included performing procedures to assess the risks of material misstatement of the financialstatements, whether due to error or fraud, and performing procedures that respond to those risks. Suchprocedures included examining, on a test basis, evidence regarding the amounts and disclosures in thefinancial statements. Our audits also included evaluating the accounting principles used and significantestimates made by management, as well as evaluating the overall presentation of the financial statements.We believe that our audits provide a reasonable basis for our opinion. Supplemental information The supple