Exhibit 99.1

          Dillard's, Inc. Reports May Sales Results

    LITTLE ROCK, Ark.--(BUSINESS WIRE)--June 3, 2004--Dillard's, Inc.
(NYSE: DDS) ("Dillard's" or the "Company") announced today that sales
for the four weeks ended May 29, 2004 were $511,413,000 compared to
sales for the four weeks ended May 31, 2003 of $536,644,000. Total
sales decreased 5% for the four-week period. Sales in comparable
stores for the four-week period decreased 5%.
    Sales for the 17 weeks ended May 29, 2004 were $2,365,808,000
compared to sales for the 17 weeks ended May 31, 2003 of
$2,350,555,000. Total sales increased 1% for the 17-week period. Sales
in comparable stores for the 17-week period were flat.
    For the four weeks ended May 29, 2004 sales in the Eastern region
exceeded the average company sales trend. Sales in the Western region
were slightly above trend while sales in the Central region were
slightly below trend.
    Sales in cosmetics and in the accessories, shoes and lingerie and
cosmetics significantly exceeded the Company average trend during the
four weeks ended May 29, 2004. Sales in women's and juniors were
slightly above trend. Weaker performances were noted in the men's,
children's and home categories with the home category performing
significantly below trend during the period.
    Dillard's, Inc. is one of the nation's largest fashion apparel and
home furnishing retailers. The Company's stores operate with one name,
Dillard's, and span 29 states. Dillard's stores offer a broad
selection of merchandise, including products sourced and marketed
under Dillard's exclusive brand names.

    CONTACT: Dillard's, Inc.
             Julie J. Bull, 501-376-5965