Dillard's

Altman Z-Score, Current: 2.95

Altman Z-Score, 2009: 2.76

Dillard's ( TLB) is closest to the safety zone, with a Z-Score of 2.95, but it's easy to see why the department store remains on shaky ground.

The department store sector was among the hardest hit amid the recession, and it has been difficult for these companies to regain their footing as shoppers continue to flock to discounters and online retailers. Dillard's, in particular, has reported annual revenue declines in seven of the last 10 years and has lost money in four of the last nine quarters.

Still, it seems the company is in the midst of a turnaround. Dillard's stock return is among the highest out of its peer group, up 30% to $21.10 for the year-to-date period. In its first quarter, Dillard's saw its profit surge nearly seven-fold to $48.8 million, or 68 cents a share, as gross margins improved by 300 basis points and the company cut costs by $20.7 million. Dillard's has also issued a quarterly dividend of 4 cents a share.

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