After 128 years, the day-to-day operations of Belk will be lead by someone other than a Belk. Tim Belk announced he will be retiring as CEO of the retail chain in July.
In his keynote presentation yesterday at the National Retail Federation's Big Show in New York City, Tim Belk, chairman and CEO of Belk, spoke of the company's transition from a department store chain in the Southeast into an omnichannel business that's growing beyond its 16-state store footprint.
Charlotte Business Journal by , Staff Writer Related: Retailing & Restaurants photo JEN WILSON Belk is the nation’s largest privately owned department-store chain, with 303 stores in 16 Southern states. Staff Writer- Charlotte Business Journal Email | Twitter Belk Inc.’s Belk Inc. Latest from The Business Journals Belk charity sale raises more than M for nonprofitsAcosta's Chartrand says business leaders raised M in private funds for educationDemand returns for IT Follow this company net income rose 26 percent to $40.3 million for its fiscal first quarter ended April 28.
Charlotte-based Belk, Inc. reported Thursday that its sales and profits grew in fiscal 2012, as the retailer completed its rebranding efforts and remodeled dozens of stores.The department store chain said sales increased to $3.7 billion in fiscal 2012, up 5.3 percent compared to the year before. Profits rose 43.5 percent, to $183.1 million.?Our financial performance last year was one of the strongest ever for Belk,? said CEO Tim Belk, in a statement. ?We are encouraged about the year ahead.? Sales at stores open a year or more, considered a key measure of a retailer?s health, grew 5.5 percent. Belk
Although consumers may still be watching discretionary spending closely, Belk reported a strong 2010 fiscal year. The Charlotte, N.C.-based department store chain said sales at stores open more than a year were up 5.1 percent in the year ended Jan. 29, 2011.