Dillard's, Inc. (Dillard's) is engaged in apparel and home furnishing retail business. The Company operates in two segments: the operation of retail department stores and a general contracting construction company. As of January 29, 2011, the Company operated 308 Dillard's stores, including 14 clearance centers, and one Internet store offering a selection of merchandise, including fashion apparel for women, men and children, accessories, cosmetics, home furnishings and other consumer goods. In January 2011, the Company formed a wholly owned subsidiary, which was focused to operate as a real estate investment trust (REIT) and a wholly owned captive insurance subsidiary (Captive). During the fiscal year ended January 29, 2011 (fiscal 2010), the Company sold three vacant retail store properties.