Belk Profit up 31%
Home & Textiles Today Staff -- Home Textiles Today, June 9, 2011
Regional department store Belk Inc.'s net income grew 31.3% during the first quarter to $31.9 million.
Sales rose 5.6% to $848.6 million, with comps up 5.7%. Top performing categories were shoes, children's and home, the company reported. Sales growth from ecommerce was "significant."
"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," said Tim Belk, chairman and ceo.