Dillard’s Inc. and other department stores had a tough 2015.
The Little Rock, Ark.-based retail chain’s net income for the year ended Jan. 30 was $269.4 million, down 18.8 percent from the previous year, according to Arkansas Business.
And Dillard’s isn’t the only chain feeling the slump. Since last year, other mall mainstays like Macy’s, Nordstrom Inc., and Kohl’s Corp. have experienced deflated stock prices.
Shopping at malls also took a hit during 2015, with only 19 percent of consumers making purchases during the holiday season, down from 21-23 percent the year before and 28 percent in 2010, according to America’s Research Group.
Read more from Arkansas Business