What are the key risks and uncertainties highlighted in the forward‑looking statements that could affect future performance?

Key risks and uncertainties disclosed in Dillard’s forward‑looking statements

• Macroeconomic and consumer‑spending headwinds – The company flags the possibility of a slowdown in discretionary‑goods demand if inflation, interest‑rate cycles, or reduced household‑disposable‑income dampens consumer confidence. A weaker U.S. retail environment would pressure same‑store sales and could force Dillard’s to hold excess inventory or cut margins to sustain traffic.

• Supply‑chain and inventory‑management challenges – Dillard’s notes exposure to “unforeseen disruptions in the supply chain, shipping delays, or vendor‑related issues” that could affect product availability and lead to higher markdowns. Persistent inventory‑turnover problems would also increase carrying costs and compress gross‑margin performance.

• Competitive and omni‑channel execution risk – The forward‑look emphasizes the need to successfully integrate its e‑commerce platform and digital‑marketing initiatives while competing against pure‑play online retailers and other department‑store peers. Failure to achieve the projected online‑sales growth or to maintain a compelling in‑store experience could erode market share and profitability.

• Regulatory, fiscal‑policy and geopolitical uncertainty – Potential changes in trade tariffs, tax policy, or data‑privacy regulations are identified as factors that could raise operating costs or limit expansion plans.

• Seasonal and weather‑related volatility – The company mentions that “adverse weather conditions” during key shopping periods (e.g., the August‑to‑November window) could materially affect foot traffic and sales.

Trading implications

Given these risk factors, the stock is sensitive to any macro‑data releases (inflation, consumer‑confidence, Fed‑rate decisions) and to retail‑sector earnings that either confirm or refute a demand slowdown. A breach below the 200‑day moving average on lower‑volume days could signal that the market is pricing in the downside risks highlighted above, presenting a short‑bias or a defensive positioning. Conversely, if Dillard’s demonstrates resilient same‑store sales, effective inventory turnover, and a clear e‑commerce traction trend, the upside potential remains intact—making a breakout above the recent resistance at $70 per share a bullish signal. Traders should therefore monitor macro indicators, supply‑chain updates, and quarterly e‑commerce performance metrics for early cues on whether the disclosed uncertainties are materializing.