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
Belkin Introduces New Line of Cases for the Samsung Galaxy Tab 3 Series
Jun 13 13
Belkin announced several breakthrough case concepts for the new Samsung Galaxy Tab 7-inch, 8-inch and 10.1-inch. Designed to maximize the changing ways that people are increasingly using their tablets--not laptops--as their primary device, the Belkin Samsung collection offers a range of tablet cases designed for the minimalist, the multitasker and just for relaxing. The most innovative tablet case in the collection, the LapStand Cover uses ComfortForm(TM), a patented double-material technique to create a completely level hands-free viewing experience, allowing to enjoy watching movies, reading or shopping without the tablet slipping from lap. In addition to the viewing mode, the LapStand Cover for Samsung Galaxy Tab 3 10.1 also has grooves along the inner fabric of the cover so can adjust the tablet for smooth and steady typing. Belkin's new line of Samsung Galaxy Tab 7-inch, 8-inch and 10.1-inch cases are available for pre-order on belkin.com and will be available at select retail stores. Tri-Fold Cover with Stand for Samsung Galaxy Tab 7.0 (F7P120) -- $39.99. -- Soft-touch finish, Multiple viewing and typing angles, Protective corners hold tablet securely in place, Elastic strap closure, FormFit Cover with Stand for Samsung Galaxy Tab 7.0 (F7P114) -- $49.99, Soft-touch finish, Multiple viewing and typing angles, Ultra-thin, form-fitting design with click-in hardshell frame to hold, tablet securely in place, Snap closure, Available in Blacktop, Slate Stripe Cover with Stand for Samsung Galaxy Tab 8.0 (F7P137) - $39.99, Multiple viewing angles, Comfortable typing angle, Strap closure, Available in Blacktop, Ink and Rose Tri-Fold Cover with Stand for Samsung Galaxy Tab 10.1 (F7P122) - $39.99.
Belk Inc. Announces Plans to Open New Stores in 2014
Jun 5 13
Belk Inc. announced plans to open new stores in 2014 at the Galleria in Dallas, Texas, and Bridge Street Town Centre in Huntsville, Ala. It also plans to expand existing stores in Flowood, Miss., Greensboro, N.C. (Friendly Center), and Mt. Pleasant, S.C. and convert them to stores over the next two years. Other store improvement projects planned for the current fiscal year include the opening of a new store in New Braunfels, Texas, the opening of new stores in Morganton and Salisbury, N.C. to replace existing stores, and the completion of eight store expansions, nine store remodels, and expansions and remodels of watches and sunglasses departments in 25 stores.
Belk Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended May 4, 2013
Jun 5 13
Belk Inc. announced unaudited consolidated earnings results for the first quarter ended May 4, 2013. For the quarter, the company reported revenues of $955.8 million compared to $909.8 million a year ago. Operating income was $54.5 million compared to $75.4 million a year ago. Income before income taxes was $43.7 million compared to $62.9 million a year ago. Net income was $28.2 million compared to $40.3 million a year ago. Net income excluding non-comparable items was $28.4 million compared to $39.7 million a year ago. The increase in Net Sales were primarily the result of increased promotions and investments in ongoing strategic merchandising, marketing, branding, eCommerce and service excellence initiatives. Comparable store sales grew for the 13th consecutive quarter, with a 5.2% increase. The decrease in net income was primarily driven by higher expense associated with the company's investments in strategic initiatives, and a decrease in margin rate.
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April 4, 2013