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Press release from Business Wire

Dillard's, Inc. – Correcting Diluted Earnings per Share to $2.17 from $2.12 for the 39 Weeks Ended October 29, 2011

<p class='bwalignc'> Basic Earnings per Share Corrected to $2.21 from $2.16 </p>

Wednesday, November 16, 2011

Dillard's, Inc. – Correcting Diluted Earnings per Share to $2.17 from $2.12 for the 39 Weeks Ended October 29, 201120:13 EST Wednesday, November 16, 2011 LITTLE ROCK, Ark. (Business Wire) -- Dillard's, Inc. (NYSE: DDS) (the "Company" or "Dillard's") announced the following correction to its results for the 39-week period ended October 29, 2011. On November 11, 2011 the Company reported earnings per share for the 13 and 39-week periods ended October 29, 2011. On the Condensed Consolidated Statements of Income for the 39 weeks ended October 29, 2011, basic and diluted weighted average shares outstanding were incorrectly reported as 55.9 million shares and 56.9 million shares, respectively. The correct numbers for basic and diluted weighted average shares outstanding for the 39-week period ended October 29, 2011 are 54.6 million and 55.6 million shares, respectively. Corrected basic earnings per share for the 39 weeks ended October 29, 2011 is $2.21 (from $2.16). Corrected diluted earnings per share for the 39 weeks ended October 29, 2011 is $2.17 (from $2.12). There are no adjustments to the information reported for the 13-week-period ended October 29, 2011. The corrected Condensed Consolidated Statements of Income for the 39 weeks ended October 29, 2011 follows.   Dillard's, Inc. and Subsidiaries Condensed Consolidated Statements of Income (Unaudited) (In Millions, Except Per Share Data)               39-week Period Ended     October 29, 2011       October 30, 2010     Amount   % ofNetSales     Amount   % ofNetSales             Net sales $   4,293.6 - $   4,186.6 - Total revenues 4,390.3 102.2   % 4,276.5 102.1   % Cost of sales 2,741.3 63.8 2,702.2 64.5 Advertising, selling, administrative and general expenses 1,190.1 27.7 1,184.2 28.3 Depreciation and amortization 192.8 4.5 193.1 4.6 Rentals 34.8 0.8 36.6 0.9 Interest and debt expense, net 54.4 1.3 55.4 1.3 Gain on disposal of assets 3.8 0.1 3.3 0.1 Asset impairment and store closing charges     1.2 0.0     2.2   0.1 Income before income taxes and income on andequity in losses of joint ventures 179.5 4.2 106.1 2.5 Income taxes 62.9 33.1 Income on and equity in losses of joint ventures     4.2 0.1       (3.0 ) 0.0   Net income $   120.8 2.8   % $   70.0   1.7   %   Basic earnings per share $ 2.21* $   1.02   Diluted earnings per share $ 2.17* $   1.02   Basic weighted average shares   54.6*     68.6   Diluted weighted average shares   55.6*     68.6     *corrected from amounts previously reported   Dillard's, Inc.Julie J. Bull, 501-376-5965