Home / Knowledge / News / Apparel/Garments / Net income grows 101.6% at Belk Inc
Net income grows 101.6% at Belk Inc
Sep '11
Belk Inc announced operating results for its fiscal second quarter ended July 30, 2011.

Net Sales
Net sales for the 13-week period increased 5.6 percent to $831.8 million compared to the same prior-year period. The increase resulted from a continuation of improved sales trends in both store and eCommerce sales. On a comparable store basis, sales increased 5.2 percent.

Belk's year-to-date sales totaled $1,680.4 million, an increase of 5.6 percent compared with the same 26-week prior year period. On a comparable store sales basis, year-to-date sales increased 5.5 percent over the prior-year period.

Net Income
Second quarter net income grew 101.6 percent to $25.0 million compared to the same period last year. Net income excluding non-comparable items increased 93.5 percent to $24.0 million compared to the same prior-year period. A detailed reconciliation of net income to net income excluding non-comparable items is provided at the end of this release.

Year-to-date net income increased to $56.9 million compared to $36.8 million for the same 26-week period last year. Net income excluding non-comparable items was $55.5 million compared to $36.5 million for the same 26-week period last year.

Tim Belk, chairman and chief executive officer of Belk, Inc., said, “We are pleased to report another quarter of strong growth in comparable store sales, healthy merchandise margins and increased profitability. Ecommerce is growing most quickly, followed by shoes, cosmetics, home and kids. We continue to invest in the business and are seeing the results. There are questions about fall; however, we are encouraged by the momentum from the first two quarters.”

Charlotte, N.C.-based Belk Inc is the nation's largest privately owned mainline department store company with 303 Belk stores located in 16 Southern states. The company was founded in 1888 by William Henry Belk in Monroe, N.C., and is in the third generation of Belk family leadership. Its Web site offers a wide assortment of fashion apparel, shoes and accessories for the entire family along with top name cosmetics, a wedding registry and a large selection of quality merchandise for the home.

Belk Inc

Must ReadView All

Textiles | On 22nd Jun 2017

Zund unveils cradle feeder roll-feed system for fabrics

Zund Systemtechnik AG, Switzerland’s textile machinery firm that...

Textiles | On 22nd Jun 2017

Hpfabrics opening production facility in Forsyth County

Hpfabrics, manufacturer of raw fabrics, is opening a new production...

Courtesy: Archroma

Textiles | On 22nd Jun 2017

Archroma’s EarthColors dyestuff range wins Gold Winner

Archroma, a global leader in colour and specialty chemicals, has...

Interviews View All

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search