Belk caps year of growth
HTT Staff -- Home Textiles Today, 4/5/2013 11:44:56 AM
Charlotte, N.C. - Belk's fiscal year sales rose 7.0%, with the fastest category growth taking place in women's accessories, children's, men's and home.
Total sales for the year ended Feb. 2 were $3.96 billion. Annual same-store sales rose 6.3%, marking Belk's 12th consecutive quarter of comp growth. Sales from ecommerce, a focus of investment for the department store chain, soared 87% to $135.2 million.
Net income increased 2.9% to $188.4 million. Excluding non-comparable items, net income jumped 14.3% to $185.5 million. The non-comparable items included a one-time tax benefit of $20.2 million in the prior year.
"This year marks our 125th anniversary, and our commitment to investing in our company, associates, customers and communities has never been stronger," said Tim Belk, chairman and ceo. "We also invested in 30 of our stores last year with full and departmental remodels and plan to touch another 45 stores in the year ahead."
We would love your feedback!