Company Overview of Belk Inc.
Belk, Inc., together with its subsidiaries, owns and operates department stores in the Southern United States. Its stores offer fashion apparel, shoes, and accessories for women, men, and children, as well as cosmetics, home furnishings, house wares, fine jewelry, gifts, handbags, scarves, small leather goods, and other merchandise. The company’s stores also include hair salons, spas, restaurants, optical centers, and other amenities. In addition, it sells its products online through its Website, belk.com, as well as offers equipment maintenance services to third parties. As of June 3, 2013, the company operated 301 stores in 16 southern states. Belk, Inc. has a strategic alliance with GE Ca...
2801 West Tyvola Road
Charlotte, NC 28217
Founded in 1888
Key Executives for Belk Inc.
Total Annual Compensation: $1.1M
Total Annual Compensation: $867.2K
President and Chief Merchandising Officer
Total Annual Compensation: $705.3K
Executive Vice President
Total Annual Compensation: $692.9K
Total Annual Compensation: $623.6K
Compensation as of Fiscal Year 2013.
Belk Inc. Key Developments
Belk Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended November 2, 2013; Reports Impairment Charges for the Third Quarter of 2013
Nov 25 13
Belk Inc. Reported Unaudited Consolidated Earnings Results for the third Quarter and nine months Ended November 2, 2013. For the quarter, the company reported revenues of $860.7 million against $837.5 million a year ago. Operating income was $15.0 million against $26.6 million a year ago. Income before income taxes was $4.3 million against $15.5 million a year ago. Net income was $3.6 million against $11.1 million a year ago. The sales increase for the period resulted primarily from a continuation of strong eCommerce sales and execution of the company's key strategies.
For the nine months, the company reported revenues of $2,716.0 million against $2,615.2 million a year ago. Operating income was $128.2 million against $156.9 million a year ago. Income before income taxes was $95.6 million against $120.8 million a year ago. Net income was $62.2 million against $78.8 million a year ago.
For the quarter the company reported asset impairment and exit costs was $1.8 million against negative asset impairment and exit costs of $0.6 million a year ago.
Belk Inc. Plans to Invest $100 Million on 45 Projects in Fiscal Year 2014
Oct 16 13
Belk Inc. announced that it plans to invest $100 million on 45 projects in fiscal year 2014, which ends in January. That list included new stores in Morganton and Salisbury, as well as New Braunfels, Texas.
Belk, Inc. Launches Premium Denim Collection, Chip & Pepper(R) California
Sep 25 13
Belk Inc. announced a new partnership with denim experts Chip & Pepper Foster. This exclusive line, Chip & Pepper(R) California, offers trend-setting, premium denim and is now available in 100 Belk locations, including belk.com. Both men's and women's merchandise will be offered. Denim styles start at $68, with some styles and washes priced at $78. This fall's first offering also includes men's t-shirts priced at $32, and women's long-sleeved knit tops priced at $38. Belk will introduce more styles in Spring 2014.
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April 4, 2013