fought back from a rough trading day Tuesday by announcing a $200 million stock buyback after the close.
The Little Rock, Ark., department store chain made the announcement after its shares fell 8% during regular trading. The selloff came after the company
posted a surprisingly steep 29% drop in first-quarter earnings.
Dillard's called the buyback plan "open-ended" and said it could make repurchases in the open market or through privately negotiated transactions. Dillard's has "substantially completed" a $200 million buyback plan approved five years ago, the company said.
Dillard's fell $2.10 to $23.36.