Tag Archives: Tim Belk

Belk Q2 Net Up 0.3 Percent, to Invest in Strategic Initiatives

Belk

CHARLOTTE, N.C.-Belk’s second-quarter net income edged up 0.3 percent as sales for the southern department-store retailer gained marginally. Net sales in the quarter, which ended on Aug. 2, totaled $906.5 million, an increase of 0.8 percent and including a pickup of 0.6 percent in same-store sales. “While the beginning of the quarter was soft, salesMore »

Last updated: August 29, 2014

Bufano Named to Lead Bon-Ton

Kathryn Bufano

YORK, Pa.-The Bon-Ton Stores has named Kathryn Bufano president and CEO effective Aug. 25. Bufano most recently served as Belk Inc.’s president of merchandising. Bufano will succeed Brendan Hoffman, who chose not to renew his employment agreement. Hoffman resigned as president and CEO and as a member of Bon-Ton’s board, effective with Bufano’s election. AMore »

Last updated: August 1, 2014

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 »

Last updated: May 29, 2014

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 »

Last updated: April 10, 2014

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 »

Last updated: December 2, 2013

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 »

Last updated: November 25, 2013

Belk Q2 Net Climbs 11.3 Percent

Belk

CHARLOTTE, N.C.-An uptick in sales and a watchful eye on expenses propelled Belk to a healthy 11.3 percent increase in net income in its fiscal second quarter, to $30.5 million. Net sales rose 3.6 percent to $899.5 million, which included a same-store sales gain of 3.2 percent. According to a statement from the department-store retailer,More »

Last updated: September 5, 2013

Belk Bowl Signs Partnership with SEC

Belk Bowl

CHARLOTTE, N.C.–The Belk Bowl, a college football bowl game in its 12th season, has finalized a deal that will bring a Southeast Conference team to the Belk Bowl beginning in 2014. The agreement extends for six years. “We are thrilled to have the SEC as a partner for the Belk Bowl. We look forward toMore »

Last updated: August 13, 2013