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Dillard's Buying Back Stock

The shares fell 8% earlier after an earnings disappointment.
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Dillard's

(DDS) - Get Report

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

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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.