By  on August 28, 2009

Belk Inc. was able to drive down expenses faster than its customers brought down sales, helping the privately held department store group boost profits by 14.6 percent in the second quarter.

In the three months ended Aug. 1, net income rose to $9.4 million from $8.2 million in the year-ago quarter. Sales fell 8.3 percent, to $760.3 million from $829.3 million, and contracted 9.4 percent on a same-store basis.

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus