Dillard's announces new $250M share repurchase program Dillardís announced that the board of directors has approved a new share repurchase program authorizing the company to repurchase up to $250M of its Class A Common Stock. The company has completed the purchase of the $92M outstanding at February 2 under its previous $250M program.
Michael Kors inventory building at retailers, says Piper Jaffray Piper Jaffray analyst Erinn Murphy lowered her estimates for Michael Kors (KORS) after channel checks indicated the company's inventory is building at retailers like Macy's (M) and Dillard's (DDS). Further, sales of watches remain under pressure in the U.S. and are starting to slow in Europe, Murphy tells investors in a research note. She believes Kors's negative comps will continue beyond this year as its fundamentals continue to deteriorate. Murphy cut her price target for shares to $38 from $44 and keeps a Neutral rating on the name. The handbag maker closed Friday down 13c to $41.99.