Belk 1Q income rises to $31.9M
Reports a rise in net income to $31.9 million for its first fiscal quarter ended April 30. In the same period last year, the company earned $24.3 million.The Charlotte-based department-store chain attributes the increase to corporate initiatives focused on sales and margin performance. Net income excluding noncomparable items increased 31.8 percent to $31.5 million from $23.9 million a year earlier.
Revenue increased 5.6 percent to $848.6 million.
Sales at stores operating for at least a year grew 5.7 percent
“Positive sales momentum from last year is continuing as we achieved another quarter of strong comparable-store sales growth,” says Chief Executive Tim Belk . “As we approach fall, we remain cautious and continue to monitor the consumer impacts of higher apparel prices, especially when combined with higher prices for food and gasoline.”
Belk, which has nine stores in the Triad, also announced that Erskine Bowles was elected to its board at the company’s annual shareholder meeting Wednesday. Bowles is president emeritus of the UNC System, where he was president from 2006 through 2010. He also is senior advisor and a founder of Charlotte-based Carousel Capital , a private-equity company where he was as managing director from 1999 to 2001. In 1993, Bowles was appointed by former President Bill Clinton to serve as director of the Small Business Administration and later was tapped to serve as deputy White House chief of staff (1994-95) and White House chief of staff (1996-98). He is married to Crandall Bowles , retired chief executive of Springs Industries Inc.
Belk Store Sales - News
“Positive sales momentum from last year is continuing as we achieved another quarter of strong comparable-store sales growth,” says Chief Executive Tim Belk. “As we approach fall, we remain cautious and continue to monitor the consumer impacts of
Earlier this year, construction began just north of Belk Department Store on a Publix Supermarket, which is expected to open later this year, according to Mark Kraft, manager of the shopping center. Groundbreaking is also expected this summer for a
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Belk profits jumped 90 percent, and Lowe's had its first full year of same-store sales growth since before the recession. Large NC tobacco companies also had good years, with profits and sales up at Camel-maker RJ Reynolds and Newport-maker Lorillard.
Belk Charity Sale | My Carolina Today
Belk Charity Sale tickets are available now to participating nonprofit organizations for sale in advance of the event. One hundred percent of the proceeds from each $5 ticket sold will be retained by the local charity. There is no limit to the number of tickets charities can sell, or to the amount of money they can raise. Belk will provide tickets and informational materials at no cost to each participating organization. On the morning of the Belk Charity Sale, the first 100 customers in each store will receive free Belk gift cards ranging in value from $5 to $100, and a chance to win one of three $1,000 Belk gift cards being awarded company-wide. Also, participating charities and schools will be registered to win one of three $1,000 donations from Belk in a company-wide drawing.
Belk Store Sales - Bookshelf
Plunkett's Retail Industry Almanac 2008
The firm's direct subsidiaries include Belk Store Services, ... FINANCIALS: Sales and profits are in thousands of dollars—add 000 to get the full amount. ...Plunkett's apparel and textiles industry almanac
In October 2006, Belk acquired the 38-store Parisian chain from Saks for $285 million. The firm subsequently announced the sale of five of those stores in ...Plunkett's Retail Industry Almanac 2009 (E-Book), Retail Industry Market Research, Statistics, Trends and Leading Companies
The firm's direct subsidiaries include Belk Store Services, ... FINANCIALS: Sales and profits are in thousands of dollars—add 000 to get the full amount. ...Plunkett's Apparel and Textiles Industry Almanac 2007 (eBook), Apparel and Textiles Industry Market Research, Statistics, Trends and Leading Companies
In October 2006, Belk acquired the 38-store Parisian chain from Saks for $285 million. The firm subsequently announced the sale of five of those stores in ...Plunkett's Apparel and Textiles Industry Almanac 2006 (E-Book)
The firm's subsidiaries include Belk Store Services, Inc., Belk Administration ... NC 28217-4500 US FINANCIALS: Sales and profits was not available for all ...Everyday Walkthroughs Directory
Belk Department Store
Shop in a 'store' created all for you, in the privacy of your own home.
About Us : Career Openings - Belk.com
Store Positions. We staff our 300+ Belk department stores with ... Store Managers are responsible for the store's overall performance in execution of sales ...
Belk, Inc.: Information from Answers.com
Between 1918 and 1920, Belk stores' total sales more than doubled to $12 million a year. ... This contrasted sharply with the Belk stores' trademark features of spare, no ...
Belk - Wikipedia, the free encyclopedia
Belk's flagship store at SouthPark Mall in Charlotte. Belk is a department store chain ... In 2006, Belk generated US$2.97 billion in sales and employed 17,900 ...
Belk Stores Blogs (Department Stores) @ ValuableInvestment.com
Beginning Friday, April 8th, tickets may be purchased online or at Belk stores with all in-store ticket sale donations divided among the participating ...