Belk, Inc., together with its subsidiaries, owns and operates department stores in the United States. As of February 2, 2013, the company operated 301 stores in 16 states. Merchandising The company’s merchandise mix is targeted to middle and upper income customers shopping for their families and homes, and includes a selection of fashion apparel, accessories and shoes for women, men and children, as well as cosmetics, home furnishings, housewares, gift and guild, jewelry, and other types of department store merchandise. Belk stores and belk.com also offer private brands in selected merchandise categories that are designed and manufactured to provide compelling fashion assortments that meet customers’ needs. The company’s private brands include Madison, ND-New Directions, ND Weekend, Via Neroli, Kim Rogers, J. Khaki, Pro Tour, Saddlebred, Red Camel, Nursery Rhyme, Belk Silverworks, Be Inspired, Biltmore For Your Home, Home Accents and Cook’s Tools. The company sells private label brands, which offer customers differentiated merchandise selections. Larger Belk stores might include hair salons, spas, restaurants, optical centers, and other amenities. The company introduced two new lines of men’s private brand merchandise during the year ended February 2, 2013 — Black Brown 1826, a line of modern men’s sportswear offered in partnership with designer Joseph Abboud and Lord & Taylor, and Ocean & Coast, a new modern, Southern brand inspired by the casual island and coastal lifestyle prevalent in various Belk markets. Salons and Spas As of February 2, 2013, the company owned and operated salons and spas in 19 Belk locations that specialize in the latest trends in hair, spa and relaxation services. The salons and spas offer assortments of brand name beauty products, including Aveda, Bumble and Bumble, Redken and Pureology. The spas offer massage therapy, full skincare, manicure and pedicure services, and specialized body treatments. Eight of the salons and spas operate under the name ‘Carmen! Carmen! Prestige Salon and Spa at Belk’, two under the name ‘Richard Joseph Studio Salon/Spa at Belk’, and the balance under the name ‘Belk Salon and Spa’. Belk Gift Registry The company’s gift registry offers an assortment of bridal merchandise that could be registered for and purchased online at belk.com or in local Belk stores and shipped directly to the customer or gift recipient. Brides and engaged couples could create their gift registry and make selections through the belk.com Website, or they could go to a Belk store where a certified professional bridal consultant could provide assistance using the store’s online gift registry kiosk. Non-Retail Businesses The company’s non-retail businesses include United Electronic Services, a division of the company, which provides equipment maintenance services to Belk stores and third parties. Growth Strategy The company has continued to focus its growth strategy on remodeling and expanding existing stores, developing new merchandising concepts in targeted demand centers, and expanding its online capabilities. Trademarks and Service Marks Belk Stores Services, Inc. owns all of the principal trademarks and service marks used by the company, including ‘belk’. These marks are registered with the United States Patent and Trademark Office. Seasonality The company’s revenues and an amount of operating and net income are realized during the fourth quarter (year ending February 2013), which includes the holiday selling season. Working capital requirements also fluctuate during the year, increasing somewhat in mid-summer in anticipation of the fall merchandising season and increasing substantially prior to the holiday selling season when the company carries higher inventory levels. Competition The company’s primary competitors are traditional department stores, mass merchandisers, national apparel chains, individual specialty apparel stores and direct merchant firms, including Macy’s, Inc.; Dillard’s, Inc.; Nordstrom, Inc.; Kohl’s Corporation; Target Corporation; Sears Holding Corporation; TJX Companies, Inc.; Wal-Mart Stores, Inc.; J.C. Penney Company, Inc; and Amazon.com, Inc. History Belk, Inc. was founded in 1888.
belk inc-cl b (BLKIB:OTCBB - OTCQB)
2801 West Tyvola Road
Charlotte, NC 28217
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