Tag Archives: Belk

Belk Q1 Net Drops 31.6 Percent

Belk

CHARLOTTE, N.C.-With a difficult sales environment and the company pumping more money into strategic initiatives, Belk’s first-quarter net income fell 31.6 percent to $19.3 million. Net sales for the quarter, which ended on May 3, were essentially flat at $955.1 million, including a same-store sales decrease of 0.2 percent. Tim Belk, chairman and CEO, saidMore »

Belk Debuts Cynthia Rowley Home Line

CYNTHIA Cynthia Rowley Lattice bed ensemble

CHARLOTTE, N.C.-Belk has partnered with designer Cynthia Rowley for a collection of home furnishings. Branded as CYNTHIA Cynthia Rowley, the line is available at 70 Belk stores and on belk.com. It includes cotton comforter sets, quilted cotton coverlets, jacquard cotton sheet sets, decorative pillows and a tabletop and entertaining collection. The designs feature Rowley’s signatureMore »

Belk FY Net Falls 15.9 Percent

Belk

CHARLOTTE, N.C.-Reduced margins and increased expenses trumped a slight gain in sales to slash Belk’s fiscal-year net income by 15.9 percent, to $158.5 million. Gross margin for the year, which ended on Feb. 1, fell 81 basis points to 32.6 percent. Selling, general and administrative expenses rose 3.9 percent in dollars and 44 basis pointsMore »

Record to Succeed Hannah as J.C. Penney CFO

JCPenney_2014_Classic

PLANO, Texas-Edward Record has been named executive vice president and chief financial officer of J.C. Penney. Record will succeed Ken Hannah on March 24. Hannah will stay on as the retailer’s financial chief “to ensure a smooth transition,” according to a J.C. Penney statement. The statement did not comment on Hannah’s future plans. Record willMore »

Resolutions for 2014

Duke_Ratliff

By Duke Ratliff With holiday shopping (and selling) in the rearview mirror, home furnishings executives can now focus on the year ahead. Here are a few resolutions for the new year that notable individuals and institutions can make to make it a successful 2014. Walmart’s new leaders Doug McMillon and David Cheesewright should resolve toMore »

December 2013 Issue

HFN December

Trends: Homemade for the Holidays Trade Show Preview: Travel Plans for 2014 At Home with Belk Floor Covering: Looking Back at 2013 Hornick: Southern Style

At Home with Belk

Belk

The North Carolina-based department store stays focused on its customer base By David Gill This year marks the 125th anniversary in business for Belk Inc., the Southern-region department store chain. The retailer was founded in 1888 by William Henry Belk, and is now headed by his grandsons—Tim, chairman and CEO; and John, president and chiefMore »

Belk Net Drops, Sales Up in Q3

Belk

CHARLOTTE, N.C.–The cost of strategic initiatives caused Belk’s net income for the third quarter to drop 67 percent. Sales increased 2.8 percent in the period ending Nov. 2. Net income for the third quarter was $3.6 million, compared to $11.1 million for the same prior-year period. Net income excluding non-comparable items was $4.6 million forMore »