Home / Knowledge / News / Apparel/Garments / Sales up 4.3% at retailer Belk in Q2 FY'12
Sales up 4.3% at retailer Belk in Q2 FY'12
03
Sep '12
Belk Inc. announced operating results for its fiscal second quarter ended July 28, 2012.

Net Sales

Net sales for the 13-week period increased 4.3 percent to $867.9 million compared to the prior-year period. On a comparable store basis, sales increased 4.9 percent. The increase reflects a continuation of positive sales trends and execution of the company's key strategies. Merchandise categories achieving the highest growth rate for the quarter were home, men's and kids.

Year-to-date sales totaled $1.78 billion, an increase of 5.8 percent compared to the same 26-week period last year. On a comparable store sales basis, year-to-date sales increased 6.2 percent.

Net Income

Net income increased 9.6 percent to $27.4 million for the second quarter compared to the prior-year period. Net income excluding non-comparable items increased 12.9 percent to $27.1 million for the period compared to the same prior-year period.

Net income for the year-to-date increased 19.0 percent to $67.7 million compared to the same 26-week period last year. Net income excluding non-comparable items increased 20.2 percent to $66.7 million.

Tim Belk, chairman and chief executive officer of Belk, Inc., said, "This marked our tenth consecutive quarter of comparable store sales growth. The results are aided by investments in the business, including branding, store remodels, technology and a program on service excellence, each of which is significant.

“eCommerce continues to grow rapidly, and we celebrated a milestone in June with the opening of an additional half million square foot fulfillment center to accommodate the business."

Belk Opens eCommerce Fulfillment Center

Belk began operating a 515,000-square-foot eCommerce fulfillment center in Jonesville, S.C. in June 2012. The new facility represents a $4.5 million investment for Belk and is expected to create 124 new jobs in the Union County, S.C. area over the next five years. The new center is in addition to the company's existing eCommerce fulfillment center in Pineville, N.C.

Investments in Strategic Initiatives

Belk has planned investments totaling approximately $600 million over a five-year. period that began in fiscal year 2011 in key strategic initiatives including store remodels and service improvements; eCommerce; information technology; merchandise planning and processes; marketing and branding; and improved sourcing practices.

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. 

Belk Inc


Must ReadView All

Courtesy: Sympatex Technologies

Textiles | On 23rd Feb 2018

Sympatex, Ricosta jointly move towards sustainability

Sympatex Technologies is moving towards sustainability with its...

Courtesy: Business wire

Information Technology | On 23rd Feb 2018

CLO Virtual Fashion launches CLO 4.0 & new website

CLO Virtual Fashion, a leading developer of cutting-edge 3D garment...

HKL Magu welcomes Amitabh Kant, CEO, NITI Aayog; Courtesy: AEPC

Apparel/Garments | On 23rd Feb 2018

AEPC completes 40 years of operation

The Apparel Export Promotion Council (AEPC) has successfully...

Interviews View All

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Urmil Arya

Sushila International, a well established textile organisation established ...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kai Poehler
Voith Paper GmbH & Co. KG

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Sonam & Paras Modi
SVA

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

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

February 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


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