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

Apparel/Garments | On 25th May 2017

AAFA reinforces opposition to Border Adjustment Tax

The American Apparel & Footwear Association (AAFA) has reinforced its ...

L-R Manish Singhai, COO, Peter England; Vinai Kumar Saxena, chairman, KVIC; Ashish Dikshit, business head, ABFRL and Anshu Sinha, CEO, KVIC while signing agreement. Courtesy: ABFRL

Textiles | On 24th May 2017

Aditya Birla & KVIC enter into a strategic partnership

Aditya Birla Fashion and Retail Ltd (ABFRL) and Khadi and Village...

Courtesy: Jabong

Apparel/Garments | On 24th May 2017

Jabong Mood Store redefines online shopping in India

Jabong, India's leading online fashion retailer, has launched the...

Interviews View All

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Ashok Desai
Bombay Textile Research Association

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

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Bani Batra

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

Madhu Jain
Madhu Jain

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

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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