-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Ld5/+gpawLvhxHQqsJgWkyHCzZTmSstZeLxxnDm/Vng0PkXKcxmqStoQVLgPmYiM q2gzSEwR6Kj0FKfyf7jVKg== 0000922423-08-000325.txt : 20080325 0000922423-08-000325.hdr.sgml : 20080325 20080324195936 ACCESSION NUMBER: 0000922423-08-000325 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20080325 DATE AS OF CHANGE: 20080324 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: DILLARDS INC CENTRAL INDEX KEY: 0000028917 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-DEPARTMENT STORES [5311] IRS NUMBER: 710388071 STATE OF INCORPORATION: DE FISCAL YEAR END: 0203 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-02823 FILM NUMBER: 08708057 BUSINESS ADDRESS: STREET 1: 1600 CANTRELL RD CITY: LITTLE ROCK STATE: AR ZIP: 72201 BUSINESS PHONE: 5013765200 FORMER COMPANY: FORMER CONFORMED NAME: DILLARD DEPARTMENT STORES INC DATE OF NAME CHANGE: 19920703 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BARINGTON COMPANIES EQUITY PARTNERS L P CENTRAL INDEX KEY: 0001107149 IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 888 7TH AVE CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 2129745700 SC 13D/A 1 kl03040.htm SCHEDULE 13D AMENDMENT NO. 3 kl03040.htm

Page 1 of 36 Pages
 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
 
SCHEDULE 13D
(Rule 13d-101)
(Amendment No. 3)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)
 
Dillard's, Inc.
(Name of Issuer)
 
Class A Common Stock, par value $0.01 per share
(Title of Class of Securities)
 
254067101
(CUSIP Number)
 
Peter G. Smith, Esq.
Kramer Levin Naftalis & Frankel LLP
1177 Avenue of the Americas
New York, NY 10036
(212) 715-9100

Marc Weingarten, Esq.
Schulte Roth & Zabel LLP
919 Third Avenue
New York, NY 10022
(212) 756-2000
 (Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

March 20, 2008
(Date of Event which Requires Filing
of this Statement)
 
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f), or 13d-1(g), check the following box:  o.
 
(Continued on following pages)

(Page 1 of 36 Pages)
 
 
 
 
 

 
SCHEDULE 13D
CUSIP No. 254067101                                                                                 Page 2 of 36 Pages
 


 
1)           NAME OF REPORTING PERSON
Barington Companies Equity Partners, L.P.
 _______________________________________________________________________________________________
2)    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP    (a)    x
                                  (b)            o
_______________________________________________________________________________________________
3)    SEC USE ONLY
_______________________________________________________________________________________________   
4)    SOURCE OF FUNDS                          WC
_______________________________________________________________________________________________
5)           CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
       ITEMS 2(d) OR 2(e)        o
_______________________________________________________________________________________________
6)    CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_______________________________________________________________________________________________
7)           SOLE VOTING POWER
NUMBER OF                                                                597,230
SHARES                                     ________________________________________________________________________
BENEFICIALLY                                   8)           SHARED VOTING POWER
OWNED BY                                                                           none
EACH                                           ________________________________________________________________________
REPORTING                                         9)           SOLE DISPOSITIVE POWER
PERSON                                                                           597,230
WITH                                           _________________________________________________________________________
10)           SHARED DISPOSITIVE POWER
none
________________________________________________________________________________________________
11)     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
597,230
________________________________________________________________________________________________
12)       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES    o
__________________________________________________________________________
13)          PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.84%
__________________________________________________________________________
14)       TYPE OF REPORTING PERSON
PN
__________________________________________________________________________
 

 
 
 
 

 
SCHEDULE 13D
CUSIP No. 254067101                                                                                 Page 3 of 36 Pages
 

 
1)           NAME OF REPORTING PERSON
Barington Companies Investors, LLC
 ___________________________________________________________________________________
2)    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP    (a)    x
                                   (b)           o
___________________________________________________________________________________
3)    SEC USE ONLY
___________________________________________________________________________________   
4)    SOURCE OF FUNDS        OO
___________________________________________________________________________________
5)           CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
       ITEMS 2(d) OR 2(e)        o
___________________________________________________________________________________
6)    CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
___________________________________________________________________________________
7)           SOLE VOTING POWER
NUMBER OF                                                                597,230
SHARES                                     ____________________________________________________________
BENEFICIALLY                                   8)           SHARED VOTING POWER
OWNED BY                                                                           none
EACH                                           ____________________________________________________________
REPORTING                                         9)           SOLE DISPOSITIVE POWER
PERSON                                                                           597,230
WITH                                           ____________________________________________________________
10)           SHARED DISPOSITIVE POWER
none
___________________________________________________________________________________
11)           AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
597,230
___________________________________________________________________________________
12)        CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES    o
_________________________________________________________________
13)           PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.84%
_________________________________________________________________
14)         TYPE OF REPORTING PERSON
OO
_________________________________________________________________
 
 
 
 
 
 

 
SCHEDULE 13D
CUSIP No. 254067101                                                                                 Page 4 of 36 Pages


 
1)           NAME OF REPORTING PERSON
Barington Investments, L.P.
 __________________________________________________________________________________
2)    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP    (a)    x
                                  (b)            o
___________________________________________________________________________________
3)    SEC USE ONLY
___________________________________________________________________________________   
4)    SOURCE OF FUNDS        WC
___________________________________________________________________________________
5)           CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
       ITEMS 2(d) OR 2(e)        o
___________________________________________________________________________________
6)CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
___________________________________________________________________________________
7)           SOLE VOTING POWER
NUMBER OF                                                                395,507
SHARES                                    _____________________________________________________________
BENEFICIALLY                                   8)           SHARED VOTING POWER
OWNED BY                                                                           none
EACH                                           ____________________________________________________________
REPORTING                                         9)           SOLE DISPOSITIVE POWER
PERSON                                                                           395,507
WITH                                           ____________________________________________________________
10)           SHARED DISPOSITIVE POWER
none
___________________________________________________________________________________
11)           AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
395,507
___________________________________________________________________________________
12)        CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES    o
_________________________________________________________________
13)           PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.56%
_________________________________________________________________
14)         TYPE OF REPORTING PERSON
PN
_________________________________________________________________
 
 
 
 
 
 

 
SCHEDULE 13D
CUSIP No. 254067101                                                                                 Page 5 of 36 Pages


 
1)           NAME OF REPORTING PERSON
Barington Companies Advisors, LLC
 ____________________________________________________________________________________
2)    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP    (a)    x
                              (b)            o
____________________________________________________________________________________
3)    SEC USE ONLY
____________________________________________________________________________________   
4)    SOURCE OF FUNDS        OO
____________________________________________________________________________________
5)           CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
       ITEMS 2(d) OR 2(e)        o
____________________________________________________________________________________
6)    CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
____________________________________________________________________________________
7)           SOLE VOTING POWER
NUMBER OF                                                                395,507
SHARES                                     _____________________________________________________________
BENEFICIALLY                                   8)           SHARED VOTING POWER
OWNED BY                                                                           none
EACH                                           _____________________________________________________________
REPORTING                                         9)           SOLE DISPOSITIVE POWER
PERSON                                                                           395,507
WITH                                           _____________________________________________________________
10)           SHARED DISPOSITIVE POWER
none
____________________________________________________________________________________
11)           AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
395,507
____________________________________________________________________________________
12)        CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES    o
_________________________________________________________________
13)           PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.56%
_________________________________________________________________
14)         TYPE OF REPORTING PERSON
OO­                                                                                                                          & #160;               
_________________________________________________________________
 
 
 
 
 

 
SCHEDULE 13D
CUSIP No. 254067101                                                                                 Page 6 of 36 Pages
 
 

1)           NAME OF REPORTING PERSON
Barington Companies Offshore Fund, Ltd.
 ____________________________________________________________________________________
2)    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP    (a)    x
                              (b)            o
____________________________________________________________________________________
3)    SEC USE ONLY
____________________________________________________________________________________   
4)    SOURCE OF FUNDS        WC
____________________________________________________________________________________
5)           CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
       ITEMS 2(d) OR 2(e)        o
____________________________________________________________________________________
6)CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
____________________________________________________________________________________
7)           SOLE VOTING POWER
NUMBER OF                                                                1,042,132
SHARES                                     _____________________________________________________________
BENEFICIALLY                                   8)           SHARED VOTING POWER
OWNED BY                                                                           none
EACH                                           _____________________________________________________________
REPORTING                                         9)           SOLE DISPOSITIVE POWER
PERSON                                                                           1,042,132
WITH                                           _____________________________________________________________
10)           SHARED DISPOSITIVE POWER
none
____________________________________________________________________________________
11)           AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,042,132
____________________________________________________________________________________
12)        CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES    o
_________________________________________________________________
13)         PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.46%
____________________________________________________________________________________
14)            TYPE OF REPORTING PERSON
OO
____________________________________________________________________________________
 
 
 
 
 

 
SCHEDULE 13D
CUSIP No. 254067101                                                                                 Page 7 of 36 Pages
 

1)           NAME OF REPORTING PERSON
Barington Offshore Advisors II, LLC
 ____________________________________________________________________________________
2)    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP    (a)    x
                              (b)            o
____________________________________________________________________________________
3)    SEC USE ONLY
____________________________________________________________________________________   
4)    SOURCE OF FUNDS        OO
____________________________________________________________________________________
5)           CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
       ITEMS 2(d) OR 2(e)        o
____________________________________________________________________________________
6)    CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
____________________________________________________________________________________
7)           SOLE VOTING POWER
NUMBER OF                                                                1,042,132
SHARES                                     _____________________________________________________________
BENEFICIALLY                                   8)           SHARED VOTING POWER
OWNED BY                                                                           none
EACH                                           _____________________________________________________________
REPORTING                                         9)           SOLE DISPOSITIVE POWER
PERSON                                                                           1,042,132
WITH                                           _____________________________________________________________
10)           SHARED DISPOSITIVE POWER
none
____________________________________________________________________________________
11)           AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,042,132
____________________________________________________________________________________
12)        CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES    o
_________________________________________________________________
13)           PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.46%
_________________________________________________________________
14)        TYPE OF REPORTING PERSON
IA, OO                                                                                                                                        
____________________________________________________________________________________
 

 
 
 

 
SCHEDULE 13D
CUSIP No. 254067101                                                                                 Page 8 of 36 Pages
 


1)           NAME OF REPORTING PERSON
Barington Capital Group, L.P.
 _______________________________________________________________________________________
2)    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP    (a)    x
                              (b)            o
_______________________________________________________________________________________
3)    SEC USE ONLY
_______________________________________________________________________________________   
4)    SOURCE OF FUNDS        OO
_______________________________________________________________________________________
5)           CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
       ITEMS 2(d) OR 2(e)        o
_______________________________________________________________________________________
6)    CITIZENSHIP OR PLACE OF ORGANIZATION
New York
_______________________________________________________________________________________
7)           SOLE VOTING POWER
NUMBER OF                                                                2,034,869
SHARES                                     ________________________________________________________________
BENEFICIALLY                                  8)           SHARED VOTING POWER
OWNED BY                                                                           none
EACH                                           ________________________________________________________________
REPORTING                                        9)           SOLE DISPOSITIVE POWER
PERSON                                                                           2,034,869
WITH                                           ________________________________________________________________
10)           SHARED DISPOSITIVE POWER
none
_______________________________________________________________________________________
11)           AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,034,869
_______________________________________________________________________________________
12)        CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES    o
____________________________________________________________________
13)           PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.86%
____________________________________________________________________
14)        TYPE OF REPORTING PERSON
PN
_______________________________________________________________________________________
 
 
 
 
 

 
SCHEDULE 13D
CUSIP No. 254067101                                                                                 Page 9 of 36 Pages
 


1)           NAME OF REPORTING PERSON
LNA Capital Corp.
 ___________________________________________________________________________________
2)    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP    (a)    x
                                  (b)            o
___________________________________________________________________________________
3)    SEC USE ONLY
___________________________________________________________________________________   
4)    SOURCE OF FUNDS        OO
___________________________________________________________________________________
5)           CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
       ITEMS 2(d) OR 2(e)        o
___________________________________________________________________________________
6)    CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
___________________________________________________________________________________
7)           SOLE VOTING POWER
NUMBER OF                                                                2,034,869
SHARES                                     ____________________________________________________________
BENEFICIALLY                                   8)           SHARED VOTING POWER
OWNED BY                                                                           none
EACH                                           ____________________________________________________________
REPORTING                                         9)           SOLE DISPOSITIVE POWER
PERSON                                                                           2,034,869
WITH                                           ____________________________________________________________
10)           SHARED DISPOSITIVE POWER
none
___________________________________________________________________________________
11)           AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,034,869
___________________________________________________________________________________
12)        CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES    o
_________________________________________________________________
13)           PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.86%
_________________________________________________________________
14)        TYPE OF REPORTING PERSON
CO
____________________________________________________________________________________
 
 
 
 
 

 
SCHEDULE 13D
CUSIP No. 254067101                                                                                 Page 10 of 36 Pages
 

1)           NAME OF REPORTING PERSON
James A. Mitarotonda
 ______________________________________________________________________________________
2)    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP    (a)    x
______________________________________________________________________________________
3)    SEC USE ONLY
______________________________________________________________________________________   
4)    SOURCE OF FUNDS        OO
______________________________________________________________________________________
5)           CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
       ITEMS 2(d) OR 2(e)        o
______________________________________________________________________________________
6)    CITIZENSHIP OR PLACE OF ORGANIZATION
United States
______________________________________________________________________________________
7)           SOLE VOTING POWER
NUMBER OF                                                                2,034,869
SHARES                                     _______________________________________________________________
BENEFICIALLY                                   8)           SHARED VOTING POWER
OWNED BY                                                                           none
EACH                                           _______________________________________________________________
REPORTING                                         9)           SOLE DISPOSITIVE POWER
PERSON                                                                           2,034,869
WITH                                           _______________________________________________________________
10)           SHARED DISPOSITIVE POWER
none
______________________________________________________________________________________
11)          AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,034,869
______________________________________________________________________________________
12)       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES    o
___________________________________________________________________
13)         PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.86%
___________________________________________________________________
14)       TYPE OF REPORTING PERSON
IN                                                                                                                           & #160;            
__________________________________________________________________________
 
 
 
 
 

 
SCHEDULE 13D
CUSIP No. 254067101                                                                                 Page 11 of 36 Pages
 

1)           NAME OF REPORTING PERSON
RJG Capital Partners, L.P.
 ______________________________________________________________________________________  
2)    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP    (a)    x
                              (b)            o
______________________________________________________________________________________
3)    SEC USE ONLY
______________________________________________________________________________________   
4)    SOURCE OF FUNDS        WC
______________________________________________________________________________________
5)           CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
       ITEMS 2(d) OR 2(e)        o
______________________________________________________________________________________
6)    CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
______________________________________________________________________________________
7)           SOLE VOTING POWER
NUMBER OF                                                                11,500
SHARES                                     _______________________________________________________________
BENEFICIALLY                                   8)           SHARED VOTING POWER
OWNED BY                                                                           none
EACH                                           _______________________________________________________________
REPORTING                                         9)           SOLE DISPOSITIVE POWER
PERSON                                                                           11,500
WITH                                           _______________________________________________________________
10)           SHARED DISPOSITIVE POWER
none
______________________________________________________________________________________
11)           AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11,500
______________________________________________________________________________________
12)           CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES    o
______________________________________________________________________________________
13)           PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.02%
______________________________________________________________________________________
14)           TYPE OF REPORTING PERSON
PN
______________________________________________________________________________________
 
 
 
 
 

 
SCHEDULE 13D
CUSIP No. 254067101                                                                                 Page 12 of 36 Pages
 

1)           NAME OF REPORTING PERSON
RJG Capital Management, LLC
 _________________________________________________________________________________________
2)    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP    (a)    x
                              (b)            o
_________________________________________________________________________________________
3)    SEC USE ONLY
_________________________________________________________________________________________   
4)    SOURCE OF FUNDS        OO
_________________________________________________________________________________________
5)           CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
       ITEMS 2(d) OR 2(e)    o
_________________________________________________________________________________________
6)    CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_________________________________________________________________________________________
7)           SOLE VOTING POWER
NUMBER OF                                                                11,500
SHARES                                     __________________________________________________________________
BENEFICIALLY                                   8)           SHARED VOTING POWER
OWNED BY                                                                           none
EACH                                           __________________________________________________________________
REPORTING                                         9)           SOLE DISPOSITIVE POWER
PERSON                                                                           11,500
WITH                                           __________________________________________________________________
10)           SHARED DISPOSITIVE POWER
none
_________________________________________________________________________________________
11)           AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11,500
_________________________________________________________________________________________
12)           CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES    o
_____________________________________________________________________
13)           PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.02%
_____________________________________________________________________
14)           TYPE OF REPORTING PERSON
OO­                                                                                                                          & #160;             
_____________________________________________________________________
 

 
 
 
 

 
SCHEDULE 13D
CUSIP No. 254067101                                                                                 Page 13 of 36 Pages


1)           NAME OF REPORTING PERSON
Ronald J. Gross
 ____________________________________________________________________________________
2)   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP     (a)    x
                              (b)            o
____________________________________________________________________________________
3)   SEC USE ONLY
____________________________________________________________________________________   
4)       SOURCE OF FUNDS        OO
____________________________________________________________________________________
5)           CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
       ITEMS 2(d) OR 2(e)        o
____________________________________________________________________________________
6)    CITIZENSHIP OR PLACE OF ORGANIZATION
United States
____________________________________________________________________________________
7)           SOLE VOTING POWER
NUMBER OF                                                                11,500
SHARES                                     _____________________________________________________________
BENEFICIALLY                                   8)           SHARED VOTING POWER
OWNED BY                                                                           none
EACH                                           _____________________________________________________________
REPORTING                                         9)           SOLE DISPOSITIVE POWER
PERSON                                                                           11,500
WITH                                           _____________________________________________________________
10)           SHARED DISPOSITIVE POWER
none
____________________________________________________________________________________
11)          AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11,500
____________________________________________________________________________________
12)        CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES    o
__________________________________________________________________
13)           PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.02%
__________________________________________________________________
14)        TYPE OF REPORTING PERSON
IN
__________________________________________________________________
 
 
 
 
 

 
SCHEDULE 13D
CUSIP No. 254067101                                                                                 Page 14 of 36 Pages
 


1)           NAME OF REPORTING PERSON
Clinton Multistrategy Master Fund, Ltd.
 ____________________________________________________________________________________
2)    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP    (a)    x
                              (b)            o
____________________________________________________________________________________
3)    SEC USE ONLY
____________________________________________________________________________________   
4)    SOURCE OF FUNDS    WC
____________________________________________________________________________________
5)           CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
       ITEMS 2(d) OR 2(e)        o
____________________________________________________________________________________
6)    CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
____________________________________________________________________________________
7)           SOLE VOTING POWER
NUMBER OF                                                                none
SHARES                                     _____________________________________________________________
BENEFICIALLY                                  8)           SHARED VOTING POWER
OWNED BY                                                                           494,750
EACH                                           _____________________________________________________________
REPORTING                                        9)           SOLE DISPOSITIVE POWER
PERSON                                                                           none
WITH                                           _____________________________________________________________
10)           SHARED DISPOSITIVE POWER
494,750
____________________________________________________________________________________
11)           AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
494,750
____________________________________________________________________________________
12)        CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES    o
_________________________________________________________________
13)           PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.70%
_________________________________________________________________
14)         TYPE OF REPORTING PERSON
CO                                                                                                                           & #160;             
_________________________________________________________________
 
 
 
 
 

 
SCHEDULE 13D
CUSIP No. 254067101                                                                                 Page 15 of 36 Pages
 


1)           NAME OF REPORTING PERSON
Clinton Special Opportunities Master Fund, Ltd.
 ____________________________________________________________________________________
2)   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP     (a)    x
                              (b)            o
____________________________________________________________________________________
3)   SEC USE ONLY
____________________________________________________________________________________   
4)   SOURCE OF FUNDS        WC
____________________________________________________________________________________
5)           CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
       ITEMS 2(d) OR 2(e)        o
____________________________________________________________________________________
6)    CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
____________________________________________________________________________________
7)           SOLE VOTING POWER
NUMBER OF                                                                none
SHARES                                     _____________________________________________________________
BENEFICIALLY                                   8)           SHARED VOTING POWER
OWNED BY                                                                           20,000
EACH                                           _____________________________________________________________
REPORTING                                         9)           SOLE DISPOSITIVE POWER
PERSON                                                                           none
WITH                                           _____________________________________________________________
10)           SHARED DISPOSITIVE POWER
20,000
____________________________________________________________________________________
11)           AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
20,000
____________________________________________________________________________________
12)        CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES    o
_________________________________________________________________
13)           PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.03%
_________________________________________________________________
14)        TYPE OF REPORTING PERSON
CO                                                                                                                           & #160;             
_________________________________________________________________

 
 
 
 

 
SCHEDULE 13D
CUSIP No. 254067101                                                                                 Page 16 of 36 Pages
 

1)           NAME OF REPORTING PERSON
Clinton Magnolia Master Fund, Ltd.
 _____________________________________________________________________________________
2)    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP    (a)    x
                              (b)            o
_____________________________________________________________________________________
3)    SEC USE ONLY
_____________________________________________________________________________________   
4)    SOURCE OF FUNDS        WC
_____________________________________________________________________________________
5)           CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
       ITEMS 2(d) OR 2(e)        o
_____________________________________________________________________________________
6)    CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
_____________________________________________________________________________________
7)           SOLE VOTING POWER
NUMBER OF                                                                none
SHARES                                      ______________________________________________________________
BENEFICIALLY                                   8)           SHARED VOTING POWER
OWNED BY                                                                           1,247,400
EACH                                           ______________________________________________________________
REPORTING                                         9)           SOLE DISPOSITIVE POWER
PERSON                                                                           none
WITH                                           ______________________________________________________________
10)           SHARED DISPOSITIVE POWER
1,247,400
_____________________________________________________________________________________
11)           AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,247,400
_____________________________________________________________________________________
12)        CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES    o
__________________________________________________________________
13)           PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.75%
__________________________________________________________________
14)         TYPE OF REPORTING PERSON
CO­                                                                                                                          & #160;               
__________________________________________________________________
 
 
 
 

 
SCHEDULE 13D
CUSIP No. 254067101                                                                                 Page 17 of 36 Pages
 


1)           NAME OF REPORTING PERSON
Clinton Lexington Master Fund, L.P.
 ______________________________________________________________________________________
2)    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP    (a)    x
                              (b)            o
______________________________________________________________________________________
3)    SEC USE ONLY
______________________________________________________________________________________  
 4)   SOURCE OF FUNDS        AF
______________________________________________________________________________________
5)           CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
       ITEMS 2(d) OR 2(e)    o
______________________________________________________________________________________
6)    CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
______________________________________________________________________________________
7)           SOLE VOTING POWER
NUMBER OF                                                                none
SHARES                                      _______________________________________________________________
BENEFICIALLY                                   8)           SHARED VOTING POWER
OWNED BY                                                                  none
EACH                                           _______________________________________________________________
REPORTING                                         9)           SOLE DISPOSITIVE POWER
PERSON                                                                           none
WITH                                           _______________________________________________________________
10)           SHARED DISPOSITIVE POWER
none
______________________________________________________________________________________
11)           AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
none
______________________________________________________________________________________
12)        CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES    o
___________________________________________________________________
13)           PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
none
___________________________________________________________________
14)        TYPE OF REPORTING PERSON
PN­                                                                                                                          & #160;               
___________________________________________________________________

 
 
 
 

 
SCHEDULE 13D
CUSIP No. 254067101                                                                                 Page 18 of 36 Pages
 

1)           NAME OF REPORTING PERSON
Clinton Group, Inc.
 _____________________________________________________________________________________
2)    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP    (a)    x
                              (b)            o
_____________________________________________________________________________________
3)    SEC USE ONLY
_____________________________________________________________________________________   
4)    SOURCE OF FUNDS    AF
_____________________________________________________________________________________
5)           CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
       ITEMS 2(d) OR 2(e)        o
_____________________________________________________________________________________
6)    CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_____________________________________________________________________________________
7)           SOLE VOTING POWER
NUMBER OF                                                                none
SHARES                                      ______________________________________________________________
BENEFICIALLY                                   8)           SHARED VOTING POWER
OWNED BY                                                                           1,762,150
EACH                                           ______________________________________________________________
REPORTING                                         9)           SOLE DISPOSITIVE POWER
PERSON                                                                           none
WITH                                           ______________________________________________________________
10)           SHARED DISPOSITIVE POWER
1,762,150
_____________________________________________________________________________________
11)           AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,762,150
_____________________________________________________________________________________
12)        CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES    o
__________________________________________________________________
13)           PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.48%
__________________________________________________________________
14)         TYPE OF REPORTING PERSON
IA, CO                                                                                                                                       
__________________________________________________________________
 

 
 
 

 
SCHEDULE 13D
CUSIP No. 254067101                                                                                 Page 19 of 36 Pages
 


1)           NAME OF REPORTING PERSON
George E. Hall
 _____________________________________________________________________________________
2)    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP    (a)    x
                              (b)            o
_____________________________________________________________________________________
3)    SEC USE ONLY
_____________________________________________________________________________________   
4)    SOURCE OF FUNDS        AF
_____________________________________________________________________________________
5)            CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
        ITEMS 2(d) OR 2(e)        o
_____________________________________________________________________________________
6)    CITIZENSHIP OR PLACE OF ORGANIZATION
United States
_____________________________________________________________________________________
7)           SOLE VOTING POWER
NUMBER OF                                                                none
SHARES                                      ______________________________________________________________
BENEFICIALLY                                   8)           SHARED VOTING POWER
OWNED BY                                                                           1,762,150
EACH                                           ______________________________________________________________
REPORTING                                         9)           SOLE DISPOSITIVE POWER
PERSON                                                                           none
WITH                                           ______________________________________________________________
10)           SHARED DISPOSITIVE POWER
1,762,150
_____________________________________________________________________________________
11)           AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,762,150
_____________________________________________________________________________________
12)        CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES    o
__________________________________________________________________
13)           PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.48%
__________________________________________________________________
14)         TYPE OF REPORTING PERSON
IN­                                                                                                                                           
__________________________________________________________________

 
 
 

 
Page 20 of 36 Pages

This Amendment No. 3 amends and supplements the Schedule 13D filed with the Securities and Exchange Commission (the “SEC”) on January 29, 2008, as amended by that certain Amendment No. 1 filed with the SEC on March 4, 2008 and that certain Amendment No. 2 filed with the SEC on March 19, 2008 (collectively, the "Statement"), by and on behalf of Barington Companies Equity Partners, L.P. (“Barington”) and others with respect to the Class A common stock, par value $0.01 per share (the “Common Stock”), of Dillard’s Inc., a Delaware corporation (the “Company”). The principal executive offices of the Company are located at 1600 Cantrell Road, Little Rock, Arkansas 72201.

Item 2.                      Identity and Background.

The second paragraph of Item 2 (a) - (c) of the Statement is hereby amended and restated as follows:
 
As of March 21, 2008, the Reporting Entities are the beneficial owners of, in the aggregate, 3,808,519 shares of Common Stock, representing approximately 5.35% of the shares of Common Stock presently outstanding based upon the 71,155,347 shares of Common Stock reported by the Company to be issued and outstanding as of December 1, 2007 in its Form 10-Q filed with the SEC on December 5, 2007 (the “Issued and Outstanding Shares”). Clinton Lexington Master Fund, L.P. no longer beneficially owns Common Stock of the Company and, as a result, is no longer required to be included as a member of any group with the other Reporting Entities in future amendments to this Schedule 13D.
 
Item 3.                      Source and Amount of Funds or Other Consideration.

Item 3 of the Statement is hereby amended and supplemented as follows:

Since the filing of the Statement, the Reporting Entities purchased an aggregate of 381,650 shares of Common Stock and 74,700 shares of Common Stock subject to American-style call options.  The amount of funds expended for purchases of Common Stock since the filing of the Statement was approximately $3,308,328.00 by Clinton Magnolia Master Fund, Ltd and $3,450,709.50 by Clinton Magnolia Master Fund, Ltd.  The amount of funds expended for purchases of American-style call options to acquire Common Stock since the filing of the Statement was approximately $4,380.00 by Barington Companies Equity Partners, L.P., $2,900.00 by Barington Investments, L.P. and $7,660.00 by Barington Companies Offshore Fund, Ltd.
 
All purchases of Common Stock and American-style call options to acquire Common Stock by the Reporting Entities since the filing of the Statement were made in open market transactions.  All such purchases of Common Stock and American-style call options to acquire Common Stock were funded by working capital, which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business.  All transactions in shares of Common Stock effected by the Reporting Entities since the filing of the Statement, including, without limitation, shares of Common Stock subject to listed American-style call and put options, are set forth in the Schedule attached hereto and incorporated herein by reference.



 
 

 
Page 21 of 36 Pages

Item 4.                       Purpose of Transaction.
 
Item 4 of the Statement is hereby amended and supplemented as follows:
 
On March 20, 2008, Barington and Clinton Multistrategy Master Fund, Ltd. (“Clinton”) delivered a letter (the “March Demand Letter”) to the Company demanding, pursuant to Section 220 of the Delaware General Corporation Law and the common law of the State of Delaware, copies of certain books and records of the Company in order to enable Barington and Clinton to investigate and communicate with the Company’s stockholders regarding matters relating to their mutual interests as stockholders, including, without limitation, the use of corporate assets, the levels and types of compensation, perquisites and benefits provided to directors and executive officers of the Company or related parties, the nature of any family, business or personal relationships between the Company’s executive officers and directors, Board oversight and certain decisions by the Board or its committees regarding the foregoing matters or otherwise affecting the Board, the management or corporate governance of the Company or other interests of stockholders.  A copy of the March Demand Letter is attached as Exhibit 99.7 and incorporated herein by reference.  The foregoing description of the March Demand Letter is qualified in its entirety by reference to such exhibit.

Item 5.                      Interest in Securities of the Issuer.

Items 5(a) - (c) of the Statement are hereby amended and restated as follows:

(a) – (b) As of March 21, 2008, Barington Companies Equity Partners, L.P. beneficially owns an aggregate of 597,230 shares of Common Stock, which includes 29,400 shares of Common Stock subject to call options, representing approximately 0.84% of the Issued and Outstanding Shares.  As of March 21, 2008, Barington Investments, L.P. beneficially owns 395,507 shares of Common Stock, which includes 19,400 shares of Common Stock subject to call options, representing approximately 0.56% of the Issued and Outstanding Shares.  As of March 21, 2008, Barington Companies Offshore Fund, Ltd. beneficially owns 1,042,132 shares of Common Stock, which includes 51,200 shares of Common Stock subject to call options, representing approximately 1.46% of the Issued and Outstanding Shares.  As the general partner of Barington Companies Equity Partners, L.P., Barington Companies Investors, LLC may be deemed to beneficially own the 597,230 shares of Common Stock beneficially owned by Barington Companies Equity Partners, L.P., which includes 29,400 shares of Common Stock subject to call options, representing approximately 0.84% of the Issued and Outstanding Shares.  As the general partner of Barington Investments, L.P., Barington Companies Advisors, LLC may be deemed to beneficially own the 395,507 shares of Common Stock beneficially owned by Barington Investments, L.P., which includes 19,400 shares of Common Stock subject to call options, representing approximately 0.56% of the Issued and Outstanding Shares.  As the investment advisor to Barington Companies Offshore Fund, Ltd., Barington Offshore Advisors II, LLC may be deemed to beneficially own the 1,042,132 shares of Common Stock beneficially owned by Barington Companies Offshore Fund, Ltd., which includes 51,200 shares of Common Stock subject to call options, representing approximately 1.46% of the Issued and Outstanding Shares.  As the majority member of Barington Companies Investors, LLC, Barington Companies Advisors, LLC and Barington Offshore Advisors II, LLC, Barington Capital Group, L.P. may be deemed to beneficially own the 597,230 shares of Common Stock beneficially owned by Barington Companies Equity Partners, L.P., the 395,507 shares of Common Stock beneficially owned by Barington Investments, L.P. and the 1,042,132 shares of Common Stock beneficially owned by Barington Companies Offshore Fund, Ltd., constituting an aggregate of 2,034,869 shares of Common Stock, including an aggregate of 100,000 shares of Common Stock subject to call options, representing approximately 2.86% of the Issued and Outstanding Shares.  As the general partner of Barington Capital Group, L.P., LNA Capital Corp. may be deemed to beneficially own the 597,230 shares of Common Stock beneficially owned by Barington Companies Equity Partners, L.P., the 395,507 shares of Common Stock beneficially
 


 
 

 
Page 22 of 36 Pages
 
 
owned by Barington Investments, L.P. and the 1,042,132 shares of Common Stock beneficially owned by Barington Companies Offshore Fund, Ltd., constituting an aggregate of 2,034,869 shares of Common Stock, including an aggregate of 100,000 shares of Common Stock subject to call options, representing approximately 2.86% of the Issued and Outstanding Shares.  As the sole stockholder and director of LNA Capital Corp., James A. Mitarotonda may be deemed to beneficially own the 597,230 shares of Common Stock beneficially owned by Barington Companies Equity Partners, L.P., the 395,507 shares of Common Stock beneficially owned by Barington Investments, L.P. and the 1,042,132 shares of Common Stock beneficially owned by Barington Companies Offshore Fund, Ltd., constituting an aggregate of 2,034,869 shares of Common Stock, including an aggregate of 100,000 shares of Common Stock subject to call options, representing approximately 2.86% of the Issued and Outstanding Shares.  Mr. Mitarotonda has sole voting and dispositive power with respect to the 597,230 shares of Common Stock beneficially owned by Barington Companies Equity Partners, L.P., which includes 29,400 shares of Common Stock subject to call options, the 395,507 shares of Common Stock beneficially owned by Barington Investments, L.P., which includes 19,400 shares of Common Stock subject to call options, and the 1,042,132 shares of Common Stock beneficially owned by Barington Companies Offshore Fund, Ltd., which includes 51,200 shares of Common Stock subject to call options.  Mr. Mitarotonda disclaims beneficial ownership of any such shares except to the extent of his pecuniary interest therein.
 
As of March 21, 2008, RJG Capital Partners, L.P. beneficially owns 11,500 shares of Common Stock, representing approximately 0.02% of the Issued and Outstanding Shares.  As the general partner of RJG Capital Partners, L.P., RJG Capital Management, LLC may be deemed to beneficially own the 11,500 shares owned by RJG Capital Partners, L.P., representing approximately 0.02% of the Issued and Outstanding Shares.  As the managing member of RJG Capital Management, LLC, which in turn is the general partner of RJG Capital Partners, L.P., Mr. Gross may be deemed to beneficially own the 11,500 shares owned by RJG Capital Partners, L.P., representing approximately 0.02% of the Issued and Outstanding Shares.  Mr. Gross has sole voting and dispositive power with respect to the 11,500 shares owned by RJG Capital Partners, L.P. by virtue of his authority to vote and dispose of such shares.  Mr. Gross disclaims beneficial ownership of any such shares except to the extent of his pecuniary interest therein.

As of March 21, 2008, Clinton Multistrategy Master Fund, Ltd. beneficially owns 494,750 shares of Common Stock, representing approximately 0.70% of the Issued and Outstanding Shares.  As of March 21, 2008, Clinton Special Opportunities Master Fund, Ltd. beneficially owns 20,000 shares of Common Stock subject to call options, representing approximately 0.03% of the Issued and Outstanding Shares.  As of March 21, 2008, Clinton Magnolia Master Fund, Ltd. beneficially owns 1,247,400 shares of Common Stock, representing approximately 1.75% of the Issued and Outstanding Shares.  By virtue of investment management agreements with each of Clinton Multistrategy Master Fund, Ltd., Clinton Special Opportunities Master Fund, Ltd. and Clinton Magnolia Master Fund, Ltd., Clinton Group, Inc.
 

 

 
 

 
Page 23 of 36 Pages
 
 
may be deemed to beneficially own the 494,750 shares of Common Stock beneficially owned by Clinton Multistrategy Master Fund, Ltd., the 20,000 shares of Common Stock subject to call options beneficially owned by Clinton Special Opportunities Master Fund, Ltd. and the 1,247,400 shares of Common Stock beneficially owned by Clinton Magnolia Master Fund, Ltd., constituting an aggregate of 1,762,150 shares of Common Stock, including an aggregate of 20,000 shares of Common Stock subject to call options, representing approximately 2.48% of the Issued and Outstanding Shares.  By virtue of his direct and indirect control of Clinton Group, Inc., Mr. Hall may be deemed to beneficially own the 494,750 shares of Common Stock beneficially owned by Clinton Multistrategy Master Fund, Ltd., the 20,000 shares of Common Stock subject to call options beneficially owned by Clinton Special Opportunities Master Fund, Ltd., and the 1,247,400 shares of Common Stock beneficially owned by Clinton Magnolia Master Fund, Ltd., constituting an aggregate of 1,762,150 shares of Common Stock, including an aggregate of 20,000 shares of Common Stock subject to call options, representing approximately 2.48% of the Issued and Outstanding Shares.  By virtue of investment management agreements with each of Clinton Multistrategy Master Fund, Ltd., Clinton Special Opportunities Master Fund, Ltd. and Clinton Magnolia Master Fund, Ltd., Clinton Group, Inc. has the power to vote or direct the voting, and to dispose or direct the disposition, of the 494,750 shares of Common Stock beneficially owned by Clinton Multistrategy Master Fund, Ltd., the 20,000 shares of Common Stock subject to call options beneficially owned by Clinton Special Opportunities Master Fund, Ltd. and the 1,247,400 shares of Common Stock beneficially owned by Clinton Magnolia Master Fund, Ltd. By virtue of his direct and indirect control of Clinton Group, Inc., Mr. Hall is deemed to have shared voting power and shared dispositive power with respect to all shares of Common Stock as to which Clinton Group, Inc. has voting power or dispositive power.  Accordingly, Clinton Group, Inc. and Mr. Hall are deemed to have shared voting and shared dispositive power with respect to the 494,750 shares of Common Stock beneficially owned by Clinton Multistrategy Master Fund, Ltd., the 20,000 shares of Common Stock subject to call options beneficially owned by Clinton Special Opportunities Master Fund, Ltd. and the 1,247,400 shares of Common Stock beneficially owned by Clinton Magnolia Master Fund, Ltd.  Mr. Hall disclaims beneficial ownership of any such shares except to the extent of his pecuniary interest therein.

Except to the extent expressly stated herein, each Reporting Entity disclaims beneficial ownership of any shares of Common Stock beneficially owned by any other Reporting Entity.

The Reporting Entities do not believe that certain of the foregoing information is called for by the Items of Schedule 13D and are disclosing it for supplemental informational purposes only.  Information with respect to each of the Reporting Entities is given solely by such Reporting Entity and no Reporting Entity shall have responsibility for the accuracy or completeness of information supplied by another Reporting Entity.

(c)  Information concerning all transactions in shares of Common Stock effected by the Reporting Entities since the filing of the Statement, including, without limitation, with respect to  shares of Common Stock subject to listed American-style call and put options, is set forth in the Schedule attached hereto and incorporated herein by reference.
 
 


 
 

 
Page 24 of 36 Pages
 
 
Item 7.                      Material to be Filed as Exhibits.
 
99.7
Letter dated March 20, 2008 from Barington and Clinton to the Company.
 
 
 
 
 


 
 

 
Page 25 of 36 Pages
 
 

 
SIGNATURES
 
After reasonable inquiry and to the best knowledge and belief of the undersigned, the undersigned certify that the information set forth in this Statement is true, complete and correct.
 
Dated:                      March 24, 2008
 
BARINGTON COMPANIES EQUITY PARTNERS, L.P.
By: Barington Companies Investors, LLC, its general partner
 

By: /s/ James A. Mitarotonda                                                                      
Name: James A. Mitarotonda
Title:    Managing Member


BARINGTON COMPANIES INVESTORS, LLC

By: /s/ James A. Mitarotonda                                                                      
Name: James A. Mitarotonda
Title: Managing Member


BARINGTON INVESTMENTS, L.P.
By: Barington Companies Advisors, LLC, its general partner

By: /s/ James A. Mitarotonda                                                                      
Name: James A. Mitarotonda
Title:   Managing Member


BARINGTON COMPANIES ADVISORS, LLC

By: /s/ James A. Mitarotonda                                                                      
Name: James A. Mitarotonda
Title:   Managing Member

 
 


 
 

 
Page 26 of 36 Pages

 
 
BARINGTON COMPANIES OFFSHORE FUND, LTD.

 
By: /s/ James A. Mitarotonda                                                                      
Name: James A. Mitarotonda
Title:   Authorized Signatory


BARINGTON OFFSHORE ADVISORS II, LLC

By: /s/ James A. Mitarotonda                                                                      
Name: James A. Mitarotonda
Title:   Managing Member


BARINGTON CAPITAL GROUP, L.P.
By:  LNA Capital Corp., its general
  partner

By: /s/ James A. Mitarotonda                                                                      
Name: James A. Mitarotonda
Title:   President and CEO


LNA CAPITAL CORP.

By: /s/ James A. Mitarotonda                                                                      
Name: James A. Mitarotonda
Title:   President and CEO


/s/ James A. Mitarotonda                                                           
James A. Mitarotonda


 
RJG CAPITAL PARTNERS, L.P.
By: RJG Capital Management, LLC, its general partner
 
 
By: /s/ Ronald J. Gross                                                
Name: Ronald J. Gross
Title: Managing Member

 
 


 
 

 
Page 27 of 36 Pages
 
 

 
RJG CAPITAL MANAGEMENT, LLC
 
By: /s/ Ronald J. Gross                                                
Name: Ronald J. Gross
Title:   Managing Member


/s/ Ronald J. Gross                                                
Ronald J. Gross
 

CLINTON MULTISTRATEGY MASTER FUND, LTD.
By: Clinton Group, Inc., its investment manager

By: /s/ Francis Ruchalski
Name:  Francis Ruchalski
Title: Chief Financial Officer


CLINTON SPECIAL OPPORTUNITIES MASTER FUND, LTD.
By: Clinton Group, Inc., its investment manager

By: /s/ Francis Ruchalski
Name:  Francis Ruchalski
Title: Chief Financial Officer


CLINTON MAGNOLIA MASTER FUND, LTD.
By: Clinton Group, Inc., its investment manager

By: /s/ Francis Ruchalski
Name:  Francis Ruchalski
Title: Chief Financial Officer

CLINTON LEXINGTON MASTER FUND, L.P.
By: Clinton Group, Inc., its investment manager

By: /s/ Francis Ruchalski
Name:  Francis Ruchalski
Title: Chief Financial Officer
 
 


 
 

 
Page 28 of 36 Pages

 

 
CLINTON GROUP, INC.

By: /s/ Francis Ruchalski
Name:  Francis Ruchalski
Title: Chief Financial Officer

/s/ George E. Hall
George E. Hall
 
 
 
 


 
 

 
Page 29 of 36 Pages
 

 
SCHEDULE
 
This schedule sets forth information with respect to each purchase and sale of Common Stock and purchase and sale of listed American-style call and put options which were effectuated by a Reporting Entity since the filing of the Statement.  All transactions were effectuated in the open market through a broker.

Options purchased and sold by Barington Companies Equity Partners, L.P.

Date
Transaction Type
Type
Quantity
Exercise Price
Expiration Date
Unit Price
Cost(*)
3/19/2008
Sell
Put
(14,700)
$17.50
3/22/2008
$0.550
$(8,085.00)
3/19/2008
Buy
Call
21,900
$17.50
3/22/2008
$0.200
$4,380.00
3/19/2008
Sell
Call
(43,900)
$17.50
3/22/2008
$0.267
$(11,721.30)
3/20/2008
Sell
Call
(36,800)
$17.50
3/22/2008
$0.503
$(18,510.40)
3/20/2008
Sell
Put
(13,000)
$17.50
3/22/2008
$0.050
$(650.00)
3/20/2008
Expired
Put
(3,400)
$17.50
3/22/2008
   


Options purchased and sold by Barington Investments, L.P.

Date
Transaction Type
Type
Quantity
Exercise Price
Expiration Date
Unit Price
Cost(*)
3/19/2008
Sell
Put
(9,700)
$17.50
3/22/2008
$0.550
$(5,335.00)
3/19/2008
Buy
Call
14,500
$17.50
3/22/2008
$0.200
$2,900.00
3/19/2008
Sell
Call
(29,100)
$17.50
3/22/2008
$0.267
$(7,769.70)
3/20/2008
Sell
Call
(24,200)
$17.50
3/22/2008
$0.503
$(12,172.60)
3/20/2008
Sell
Put
(8,700)
$17.50
3/22/2008
$0.050
$(435.00)
3/20/2008
Expired
Put
(2,300)
$17.50
3/22/2008
   


Options purchased and sold by Barington Companies Offshore Fund, Ltd.

Date
Transaction Type
Type
Quantity
Exercise Price
Expiration Date
Unit Price
Cost(*)
3/19/2008
Sell
Put
(25,600)
$17.50
3/22/2008
$0.550
$(14,080.00)
3/19/2008
Buy
Call
38,300
$17.50
3/22/2008
$0.200
$7,660.00
3/19/2008
Sell
Call
(76,700)
$17.50
3/22/2008
$0.267
$(20,478.90)
3/20/2008
Sell
Call
(64,000)
$17.50
3/22/2008
$0.503
$(32,192.00)
3/20/2008
Sell
Put
(23,300)
$17.50
3/22/2008
$0.050
$(1,165.00)
3/20/2008
Expired
Put
(5,700)
$17.50
3/22/2008
   


Shares purchased and sold by Clinton Multistrategy Master Fund, Ltd.

Date
Number of Shares
Price per Share
Cost(*)
3/19/2008
134,500
$17.443
$2,346,083.50
3/19/2008
1,600
$17.104
$27,366.40
3/20/2008
(127,000)
$15.000
$(1,905,000.00)
3/20/2008
(28,900)
$17.500
$(505,750.00)
3/20/2008
51,350
$18.206
$934,878.10
 
 
 


 
 

 
Page 30 of 36 Pages
 

 

Options purchased and sold by Clinton Multistrategy Master Fund, Ltd.

Date
Transaction Type
Type
Quantity
Exercise Price
Expiration Date
Unit Price
Cost(*)
3/19/2008
Cover Short
Call
20,000
$15.00
3/21/2008
$2.460
$49,200.00
3/19/2008
Cover Short
Call
13,000
$15.00
3/21/2008
$2.750
$35,750.00
3/19/2008
Short Sell
Call
(60,000)
$17.50
4/19/2008
$1.150
$(69,000.00)
3/20/2008
Short Sell
Call
(30,000)
$20.00
4/19/2008
$0.500
$(15,000.00)
3/20/2008
Short Sell
Call
(30,000)
$17.50
4/19/2008
$1.387
$(41,610.00)


Options purchased and sold by Clinton Special Opportunities Master Fund, Ltd.

Date
Transaction Type
Type
Quantity
Exercise Price
Expiration Date
Unit Price
Cost(*)
3/19/2008
Cover Short
Call
10,000
$15.00
3/21/2008
$2.750
$27,500.00


Shares purchased by Clinton Magnolia Master Fund, Ltd.

Date
Number of Shares
Price per Share
Cost(*)
3/19/2008
17,400
$17.330
$301,542.00
3/19/2008
1,100
$17.104
$18,814.40
3/19/2008
89,700
$17.443
$1,564,637.10
3/20/2008
86,000
$18.206
$1,565,716.00
3/20/2008
(70,300)
$17.500
$(1,230,250.00)


Options purchased and sold by Clinton Magnolia Master Fund, Ltd.

Date
Transaction Type
Type
Quantity
Exercise Price
Expiration Date
Unit Price
Cost(*)
3/19/2008
Cover Short
Call
40,000
$15.00
3/21/2008
$2.559
$102,360.00
3/19/2008
Short Sell
Call
(120,000)
$17.50
4/19/2008
$1.150
$(138,000.00)
3/20/2008
Short Sell
Call
(60,000)
$20.00
4/19/2008
$0.504
$(30,240.00)
3/20/2008
Short Sell
Call
(110,000)
$17.50
4/19/2008
$1.364
$(150,040.00)


Shares sold by Clinton Lexington Master Fund, L.P.

Date
Number of Shares
Price per Share
Cost(*)
3/19/2008
(17,400)
$17.330
$(301,542.00)
3/20/2008
(121,700)
$15.000
$(1,825,500.00)
3/20/2008
(10,600)
$17.500
$(185,500.00)

 

 
-------------------------------------------
(*)    Excludes commissions and other execution-related costs
 
 
 
 
 
 
 
 
 
EX-99.7 2 kl03040_ex99-7.htm EXHIBIT 99.7 LETTER kl03040_ex99-7.htm
                                                                                                     
Page 31 of 36 Pages

 
Exhibit 99.7
 
 

 
Barington Companies Equity Partners, L.P.                                                     Clinton Multistrategy Master Fund, Ltd.
      c/o Barington Capital Group, L.P.                                                                                                                               c/ o Clinton Group, Inc.
        888 Seventh Avenue, 17th Floor                                                                                                                           9 West 57th Street, 26th Floor
          New York, New York 10019                                                                                                                               New York, New York 10019
 

 
 

                March 20, 2008
 

 
VIA FACSIMILE AND OVERNIGHT DELIVERY
 
Dillard’s, Inc.
1600 Cantrell Road
Little Rock, Arkansas 72201
Attn:  Corporate Secretary
 
Re:           Inspection of Books and Records
 
Dear Sir or Madam:
 
Barington Companies Equity Partners, L.P., a Delaware limited partnership (“Barington”), is the beneficial owner of 597,230 shares of Class A Common Stock, $0.01 par value per share (the “Class A Common Stock”), of Dillard’s, Inc., a Delaware corporation (the “Company”), 1,000 shares of which are held of record (the “Barington Shares”).  Clinton Multistrategy Master Fund, Ltd., a Cayman Islands company (“Clinton”), is the beneficial owner of 494,750 shares of Class A Common Stock of the Company, 100 shares of which are held of record (the “Clinton Shares”).
 
As the record owner of the Barington Shares and the Clinton Shares, respectively, Barington and Clinton each hereby demands, pursuant to Section 220 of the Delaware General Corporation Law and the common law of the State of Delaware, during the usual hours for business, to inspect the following books and records of the Company and to make copies or extracts therefrom:
 
1.           Copies of Board of Director and Committee Meeting Minutes
 
(a)           Copies of all minutes of the Board of Directors of the Company and all relevant committees of the Board (including, in each case, any actions taken by written consent without a meeting) pertaining to the decision of the Board not to form a nominating committee, corporate governance committee or other committee with similar functions.
 
(b)           Copies of all minutes of the Board of Directors of the Company and all relevant committees of the Board (including, in each case, any actions taken by written consent without a meeting) pertaining to the decision of the Board or any committee thereof to amend the Bylaws of the Company to provide for a majority voting standard for the election of directors, including, without limitations, minutes pertaining to any decision of the Board or any committee thereof to exclude from such amendment a customary exception for contested elections.
 
 
 

                                                                                                
                                                                                                            
Page 32 of 36 Pages
    
 
(c)           Copies of all minutes of the Board of Directors of the Company and all relevant committees of the Board (including, in each case, any actions taken by written consent without a meeting) pertaining to any consideration, authorization or approval by the Board or any committee thereof over the past ten (10) years pertaining to any service performed or proposed to be performed by CDI Contractors, Construction Developers, Inc. or any other entity affiliated with the Company that is primarily engaged in the construction business for or on behalf of any director, executive officer or member of the Dillard family.
 
(d)           Copies of all minutes of the Board of Directors of the Company and all relevant committees of the Board (including, in each case, any actions taken by written consent without a meeting) pertaining to any potential conflict of interest or related-party transaction or violation or waiver of the Company’s Code of Conduct or similar policies considered by the Board of Directors or any committee thereof with respect to any officer, director or employee of the Company (or any relative or entity affiliated with any such person) during the past ten (10) years.
 
(e)           Copies of all minutes of the Board of Directors of the Company and all relevant committees of the Board (including, in each case, any actions taken by written consent without a meeting) pertaining to any review or consideration by the Board or any committee thereof of the Company’s communications policies and practices with respect to analysts, reporters or stockholders of the Company.
 
(f)           Copies of all minutes of the Board of Directors of the Company and all relevant committees of the Board (including, in each case, any actions taken by written consent without a meeting) pertaining to the decision by the Board to employ, or continue to employ, William Dillard II, Alex Dillard, Mike Dillard and Drue Corbusier as the top executive officers of the Company, including, without limitation, minutes pertaining to any decision of the Board or any committee thereof pertaining to the consideration of alternative or additional candidates.
 
(g)           Copies of all minutes of the Board of Directors of the Company and all relevant committees of the Board (including, in each case, any actions taken by written consent without a meeting) pertaining to the compensation paid to the Company’s executive officers over the past ten (10) years, including, without limitation, copies of any compensation studies or reports considered by the Board or any committee thereof in connection therewith.
 
 
2.
Records of Actual or Proposed Transactions between the Company and its Executive Officers or Directors Relating to the Use or Acquisition of Certain Assets
 
(a)           All books and records of the Company pertaining to any perquisites or non-cash compensation provided or made available to any executive officer or director of the Company or the acquisition by the Company of assets intended to be available for use (whether for business or personal reasons) by any executive officer or director of the Company over the past five (5) years, including:
 
§ real property (including private residences and vacation property);
§ aircraft (including fractional participations in aircraft);
§ watercraft;
§ tickets for sporting, performing arts or other events;
§ country club or golf club memberships;
§ recreational, vacation or other properties; or
§ other similar assets or benefits.
 
 
 


 
                                                  0;                                                          
Page 33 of 36 Pages 
 
(b)           In addition, please provide all books and records of the Company pertaining to any payments made by the Company to any executive officer or director over the past five (5) years relating to the actual or proposed use by the Company of, or any benefit derived by the Company from, any of the assets described in item 2(a) above owned or leased by such person.  Please also provide all books and records of the Company pertaining to any payments made by any executive officer or director of the Company over the past five (5) years relating to the actual or proposed use of, or benefit derived from, any of the assets described in item 2(a) above owned or leased by the Company.
 
3.           Records Pertaining to Company Aircraft
 
All books and records of the Company pertaining to all aircraft owned or leased by the Company or otherwise utilized by any officer, director or employee of the Company over the past five (5) years, including, without limitation, model and tail numbers, purchase price (or lease expense), sales price (or lease termination expense) and annual operating data as well as flight travel logs and other documentation setting forth the date, destination, passengers and purpose of each flight during such time period.
 
4.           Records Pertaining to CDI Contractors and Construction Developers
 
All books and records of the Company pertaining to CDI Contractors, Construction Developers, Inc. and any other entity affiliated with the Company that is primarily engaged in the construction business, including, without limitation (a) information as to the ownership of each entity and details of any employment, contractual or other business arrangements between such entity and any member of the Dillard family and (b) details of any construction work performed by such entity for or on behalf of any member of the Board or the Dillard family.
 
5.           Records Pertaining to Family and Business Relationships
 
(a)           A list of any family members of any current executive officer or director of the Company who is or has been employed or engaged by the Company or any of its subsidiaries in any respect during the past five (5) years, together with their position and annual compensation.
 
(b)           A list of any family relationships between any current executive officer or director of the Company and any other current or former executive officer or director of the Company, as well as all books and records of the Company pertaining to the decision of the Board to hire or appoint such executive officer or director.
 
(c)           A list of any business or personal relationships between any current executive officer or director of the Company and any other current or former executive officer or director of the Company, as well as all books and records of the Company pertaining to the decision of the Board to hire or appoint such executive officer or director.
 
6.           Travel and Business Expense Reimbursement Reports
 
Copies of all books and records of the Company pertaining to any travel and business expenses submitted by any executive officer of the Company for reimbursement over the past five (5) years.  Please indicate each instance where any expenses of a spouse, relative or other person that accompanied the executive on a business trip were reimbursed by the Company.
 
 
 

 
                                                                                                             
Page 34 of 36 Pages
 
7.           Dillard’s Retirement Trust
 
Copies of all books and records of the Company pertaining to Dillard’s, Inc. Retirement Trust, including, without limitation, all documentation pertaining to communication with trust participants and the voting of shares of common stock of the Company held by such trust.
 
As used in this demand, the term “Company” shall include all subsidiaries thereof, as the context requires.

Barington and Clinton will bear the reasonable and documented costs incurred by the Company in connection with the production of the information demanded.

The purpose of this demand is to enable Barington and Clinton to investigate and communicate with the Company’s stockholders regarding matters relating to their mutual interests as stockholders, including, without limitation, the use of corporate assets, the levels and types of compensation, perquisites and benefits provided to directors and executive officers of the Company or related parties, the nature of any family, business or personal relationships between the Company’s executive officers and directors, Board oversight and certain decisions by the Board or its committees regarding the foregoing matters or otherwise affecting the Board, the management or corporate governance of the Company or other interests of stockholders.

[Remainder of page intentionally left blank]

 

 
 
 

 
 
                                                                                                            
Page 35 of 36 Pages
                                                                                                                

Barington and Clinton each hereby designates and authorizes Kramer Levin Naftalis & Frankel LLP, Schulte Roth & Zabel LLP and MacKenzie Partners, Inc. and their partners, employees, agents and any other persons to be designated by them, acting singly or in any combination, to act as its agents and conduct the inspection and copying herein requested on our behalf.  Please advise Peter Smith (telephone 212-715-9401) of Kramer Levin Naftalis & Frankel LLP as to when and where the items demanded above will be available.  It is requested that the information identified above be made available as soon as it is available to the Company and, in any event, no later than March 28, 2008.


Very truly yours,

BARINGTON COMPANIES EQUITY PARTNERS, L.P.
 
By: Barington Companies Investors, LLC, its General Partner
 

 
By:  /s/ James A. Mitarotonda
        James A. Mitarotonda
        Managing Member
 

CLINTON MULTISTRATEGY MASTER FUND, LTD.
 
By:  Clinton Group, Inc., its Investment Advisor

 
By:  /s/ Michael A. Popson
        Michael. A. Popson
        Managing Director
 



 
 

 
 
                                                                                                            
Page 36 of 36 Pages

 
cc:           Dillard’s, Inc.
c/o The Corporation Trust Company
1209 Orange Street
Wilmington, Delaware 19801
Attention: Corporate Secretary

William T. Dillard, II
Chairman of the Board and Chief
                  Executive Officer
Dillard’s, Inc.
1600 Cantrell Road
Little Rock, Arkansas 72201

Peter G. Smith, Esq.
                Kramer Levin Naftalis & Frankel LLP
1177 Avenue of the Americas
New York, NY 10036

Marc Weingarten, Esq.
Schulte Roth & Zabel LLP
919 Third Avenue
New York, NY 10022

Daniel Burch
                MacKenzie Partners, Inc.
105 Madison Avenue
New York, NY 10016

Mario Ponce, Esq.
Simpson Thacher & Bartlett LLP
425 Lexington Avenue
New York, NY 10017



 



[Affidavits intentionally omitted]
 
 
 
 
 

 
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