- A vote of confidence from one of Warren Buffett’s lieutenants sent Dillard’s stock up as much as 19% in pre-market trading on Monday.
- Ted Weschler, an investment manager at Buffett’s Berkshire Hathaway, revealed an almost 6% stake in the ailing department-store chain on Friday.
- Weschler’s 1.08 million Dillard shares were worth about $45 million at the close of trading on Friday.
- Dillard’s net sales tumbled 41% year-on-year in the six months to August 1, fueling a $171 million net loss.
- Visit Business Insider’s homepage for more stories.
Dillard’s stock climbed as much as 19% in pre-market trading on Monday, after Warren Buffett’s deputy disclosed a nearly 6% stake in the ailing department-store chain.
Ted Weschler, who helps Buffett manage Berkshire Hathaway’s investment portfolio, along with Todd Combs, revealed the personal holding in a Securities and Exchange