follow us

Belk ups profit on lower sales   

Charlotte, N.C. – By tightening inventory and controlling other costs, southern regional department store operator Belk, Inc. boosted second-quarter profits to $8.2 million, a 9.3% rise from the year-ago period.

Sales of $829.3 million at the 307-store chain were down 5.6% and comps slipped 4.0%. “While sales results were disappointing, we were pleased to deliver a profit improvement through the hard work and efforts of our associates throughout the company,” said chairman and ceo Tim Belk.

The results showed a distinct turnaround from the first quarter, as net income six months year-to-date was just $13.3 million compared to $17.0 million for the year-ago period, while first-half sales fell 7.7% and comps dropped 6.4%.

Featured Video

  • Online Moves From Afterthought To Main Thought For Textiles Suppliers

    Camera Icon More Videos

Other Home Furnishings Sites

Casual Living
Gifts and Decorative Accessories
Home Accents Today
Kids Today
Furniture Today