Belk Ups Profit on Lower Sales

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%.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • Live From New York: Fashion Comes Across the Pond

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.


HTT Cover October 2017

See the October 2017 issue of Home & Textiles Today. In this issue, we look at the Top 25 Online Retailers.  H&TT's exclusive annual ranking of the biggest online sellers of home textiles finds that while pure play etailers continue to fly, bricks & clicks are digging into omnichannel. See details!