Department store Dillard's, Inc. (NYSE:DDS) has seen its stock soar over the last year due to a number of positive growth drivers. Learn the three main reasons why David Cohne thinks the stock has further to go.Unless you live in the South or Midwest, you may not be familiar with Dillard's, Inc. (DDS). DDS is a large departmental store chain featuring fashion apparel and home furnishings. Its stores offer a large variety of merchandise and feature products from both national and exclusive brand sources.
The company also operates a general contracting construction company, CDI Contractors. The CDI Contractors' business includes constructing and remodeling stores for DDS. However, its retail segment generates most of the revenue for the company.
DDS has become quite popular of late as its stock is up over a whopping 440% in the past year. This is meme stock territory. So, what drove these massive returns? Especially when the SPDR S&P Retail ETF (XRT) is up almost a quarter (125%) of that in the past year?