| BARINGTON CAPITAL
GROUP AND CLINTON GROUP TAKE MINOR OWNERSHIP OF
DILLARDS STOCK… BUT HAVE A LOT TO SAY
 New
York investment firms, Barington Capital Group
and Clinton Group, revealed they own over 5.3
percent of Dillard’s Inc. shares. They also
sent a letter to the retailer’s board outlining
recommendations for strategic improvements.
“Given the company’s poor share price
performance over the past six months, we are convinced
that Dillard’s is an undervalued asset with
tremendous opportunity for improvement. Barington
has attempted to reach out to you and William
T. Dillard, II, the company’s chairman and
ceo, several times over the past six months to
discuss measures to improve shareholder value.”
It also goes on to say: “Unfortunately,
it appears that you have not only ignored our
letters but have done little to improve the Company
on your own initiative, as Dillard’s financial
results have gone from bad to worse since our
initial communication in June 2007.”
The letter said that as significant shareholders,
the two firms are “committed to taking all
actions necessary to enhance shareholder value.”
Oops…is something happening here. Just thought
you might want to know. |