Aug. 25, 2022

Construction has started on the future Sioux Falls Dillard’s, and the department store reported it in its most recent quarterly earnings.

“Dillard’s confirmed its commitment to The Empire Mall in Sioux Falls, South Dakota,” the publicly traded company said in its second quarter earnings report, which was released this month. “The new store is expected to open in the fall of 2023 and will mark the company’s 30th state of operation.”

Dillard’s will be in the former Younkers space near the food court and will add 40,000 square feet to the existing 100,000-square-foot space.

The company reported net income for the 26 weeks that ended July 30 of $414.5 million, or $23.07 per share, compared with $343.9 million, or $16.03 per share, for the same time last year.

“Business softened in the quarter as we lapped the strongest second quarter in our history,” CEO William Dillard II said in a statement. “Our first half performance was far better than last year’s with net income up 21 percent, earnings per share up 44 percent and gross margin up 240 basis points. We repurchased $412 million of stock during the half versus $171 million last year.”

Empire Mall manager details plans for Dillard’s, more activity within the mall