Belk Touts Strong Year
May 17, 2012,
Profit got a boost from higher sales and better margin as well as lower expenses and a deferred tax valuation. Excluding non-comparable items, net income for the year rose 27% to $162.3 million.
Home was one of the leading categories for the year, along with ladies shoes and children's. Sales rose 5.3% to $3.7 billion, with comps up 5.5%.
Belk, a privately owned company, did not break out fourth quarter results, but said it achieved its eighth consecutive quarter of year-over-year comp sales growth.
Related Content By Author
1200 Suppliers are Ready for You at Intertextile Shanghai
Home & Textiles Today eDaily
Most Viewed Articles
See the August 2017 issue of Home & Textiles Today. In this issue, we look at the Top 50 Retailing Giants Report, plus Manufacturing: Made in the USA gaining ground; International: Portugal ramping up exports; New products: NY Now home textiles introductions; Outlook: Commentary from H&TT's editors; and Planning: Trade show calendar.