Investors in Dillard’s want to meet with management on ways to increase shareholder value. Uh huh. Said Baring Capital Group, which owns 3.2 percent of Dillard’s (non-controlling) common stock:

We have invested in Dillard’s, whose shares we believe are undervalued, as we are convinced that we can assist the Company in dramatically improving shareholder value. As we have not been able to reach you by telephone, we are writing to request to meet with you and members of your management team. We would like to discuss a number of measures that we believe will increase the Company’s profitability to levels achieved by its peers and better utilize the Company’s substantial asset base. These include initiatives that would augment the Company’s existing operating strategy in areas such as merchandising, inventory management and cost containment, as well as measures to unlock the value of the Company’s real estate portfolio. …

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Market seems to like this news. Guy I know thinks management will have to take a meeting with such a sizable shareholder. Doesn’t mean they’ll do anything, though. Or have to, given the stock structure that leaves Dillard family in absolute control.

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