By  on June 3, 2013

Belk Inc. got a good sales gain during the first quarter but the bottom line fell 30 percent due to increased promotions and investments in new strategies.

Net income for the quarter ended May 4 reached $28.2 million, compared to $40.3 million in the year-ago period, while net sales increased 5.1 percent to $956 million and comparable-store sales gained 5.2 percent. E-commerce sales grew 67 percent over the same prior-year period. Online sales positively affected comparable-store sales by 1.6 percent in the quarter.

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