By  on April 3, 2008

Belk Inc.'s bottom line retreated more than 20 percent in the fourth quarter as sales saw a double-digit dip.

For the three months ended Feb. 2, the Charlotte, N.C.-based department store group reported net income of $85.6 million, 24.2 percent less than the year-ago level of $113 million. Sales contracted 12.3 percent to $1.23 billion from $1.41 billion in the final period of fiscal 2007.

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