Last $60.00 USD
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As of 8:10 PM 08/21/14 All times are local (Market data is delayed by at least 15 minutes).

belk inc-cl b (BLKIB) Snapshot

Open
$60.00
Previous Close
$60.00
Day High
$60.00
Day Low
$60.00
52 Week High
08/20/14 - $85.00
52 Week Low
08/15/14 - $46.25
Market Cap
2.4B
Average Volume 10 Days
0.0
EPS TTM
$3.68
Shares Outstanding
913.9K
EX-Date
04/24/14
P/E TM
16.3x
Dividend
$0.80
Dividend Yield
1.33%
Current Stock Chart for BELK INC-CL B (BLKIB)

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belk inc-cl b (BLKIB) Details

Belk, Inc., together with its subsidiaries, owns and operates department stores in the United States. Its stores offer fashion apparel, shoes, and accessories for women, men, and children; sportswear for women; and cosmetics, home furnishings, house wares, fine jewelry, gifts, handbags, scarves, small leather goods, denims, and other merchandise. The company also sells its products through its Website, belk.com, as well as provides equipment maintenance services to third parties. As of July 9, 2014, it operated 299 stores in 16 states. Belk, Inc. was founded in 1888 and is headquartered in Charlotte, North Carolina.

24,700 Employees
Last Reported Date: 04/15/14
Founded in 1888

belk inc-cl b (BLKIB) Top Compensated Officers

Chairman, Chief Executive Officer and Member ...
Total Annual Compensation: $1.1M
President, Chief Operating Officer, Director ...
Total Annual Compensation: $881.2K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $575.0K
Executive Vice President, General Counsel and...
Total Annual Compensation: $701.0K
Consultant
Total Annual Compensation: $153.7K
Compensation as of Fiscal Year 2014.

belk inc-cl b (BLKIB) Key Developments

Belk Inc. Announces Unaudited Consolidated Financial Results for the Fiscal Second Quarter and Six Months Ended August 2, 2014

Belk Inc. announced unaudited consolidated financial results for its fiscal second quarter and six months ended August 2, 2014. Net sales for the 13-week period increased 0.8% to $906.5 million compared to the prior-year period. On a comparable store basis, net sales increased 0.6%. Second quarter net income increased 0.3% to $30.6 million compared to the same prior-year period. Net income excluding non-comparable items totaled $30.0 million compared to $30.9 million in the prior year period. Operating income was $58.8 million against $58.7 million a year ago. Income before income taxes was $47.1 million against $47.6 million a year ago. Year-to-date sales increased 0.3% to $1.86 billion compared to the same 26-week period last year. On a comparable store sales basis, sales increased 0.2%. Net income year-to-date was $49.9 million compared to $58.7 million for the same 26-week period last year. The decrease was due primarily to higher expense associated with the company's investments in strategic initiatives. Operating income was $99.9 million against $113.2 million a year ago. Income before income taxes was $76.6 million against $91.3 million a year ago.

Belk Inc. Announces Executive Changes

Belk Inc. has appointed two of its executives to new management posts. The company has named Jan Clevenger as executive vice president and general merchandising manager of men's, home and kids. She has been chair of Belk's Western division, based in Birmingham, Ala., since March 2008. Clevenger joined Belk in 2000 and has held a number of different positions during her tenure. She will report to David Zant, who was recently named president and chief merchandising officer. Zant previously held Clevenger's new post. Belk also has promoted David Luoma to chair of Belk's Western division to succeed Clevenger. He joined Belk in 2011 as senior vice president and director of stores for the company's Southern division, based in Atlanta. Before that, Luoma held various positions for Macy's and May department stores in upstate New York and western Massachusetts.

Belk Inc. Announces Management Changes

Belk Inc. named David Zant as the department store chain's president and chief merchandising officer. Zant, executive vice president and general merchandising manager of men's, home and kids, takes his new post on Aug. 11. Former president and merchandising officer Kathryn Bufano resigned to become CEO of The Bon-Ton Stores Inc. Zant will report to chairman and CEO Tim Belk.

 

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Industry Analysis

BLKIB

Industry Average

Valuation BLKIB Industry Range
Price/Earnings 14.2x
Price/Sales 0.5x
Price/Book 1.6x
Price/Cash Flow 13.3x
TEV/Sales 0.4x
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