Profile: Belk Inc (BLKIA.PK)
10 Oct 2014
Belk, Inc. (Belk), incorporated in 1997, is a department store in the United States. During the fiscal year ended January 29, 2011 (fiscal 2011), Belk operated 305 stores in 16 states, primarily in the southern United States. The Company’s stores focuses to provide customers the of one-stop shopping, with an appealing merchandise mix and offerings of brands, styles, assortments and sizes. Belk stores sell brands of fashion apparel, shoes and accessories for women, men and children, as well as cosmetics, home furnishings, housewares, jewelry, gifts and other types of merchandise. It also sells private label brands. Its stores may include hair salons, spas, restaurants, optical centers and other amenities. Belk Stores Services, Inc., a subsidiary of Belk, and its subsidiary Belk Administration Company, along with Belk International, Inc., a subsidiary of Belk, and its subsidiary, Belk Merchandising Company, LLC (collectively BSS), coordinate the operations of Belk stores on a Company-wide basis. BSS provides a range of services to the Belk division offices and stores, such as merchandising, merchandise planning and allocation, advertising and sales promotion, information systems, human resources, public relations, accounting, real estate and store planning, credit, legal, tax, distribution and purchasing. During fiscal year 2011, it opened three new jewelry shops and was operating 151 jewelry shops in its stores under the Belk and Co. Jewelers name.
Belk stores feature brand and private label merchandise. The merchandise mix is targeted to middle and upper income customers shopping for their families and homes, and includes fashion apparel, accessories and shoes for women, men and children, as well as cosmetics, home furnishings, housewares, gift and guild, jewelry, and other types of department store merchandise. Belk stores offers assortments of many national brands. The Company’s private brands include Madison, ND-New Directions, Choices, Kim Rogers, J. Khaki, Pro Tour, Saddlebred, Red Camel, Nursery Rhyme, Belk Silverworks, Be Inspired, Biltmoretm For Your Home, Biltmore Apothecary, Mary Jane’s Farm, Home Accents and Cook’s Tools.
Marketing and Branding
During fiscal year 2011, Belk launched a Company-wide re-branding and corporate marketing initiative that included a new logo and tag line, Modern. Southern. Style. New logo signs were installed in 60 stores.
Belk operates a 142,000 square foot eCommerce fulfillment center in Pineville, North Carolina to process handling and shipping of online orders. The Website features a line of fashion apparel, accessories and shoes, and a line of cosmetics, home and gift merchandise.
The Company’s gift card program provides an option for customer gift-giving and enables stores to issue electronic credits to customers in lieu of cash refunds for merchandise returned without sales receipts. During fiscal year 2011, the Company continued to expand to offer Belk gift cards for sale outside of Belk stores in select grocery store outlets through partnerships with regional and national grocery store chains.
Salons and Spas
During fiscal 2011, Belk owned and operated 23 hair styling salons in various store locations, 17 of which also offer spa services. The hair salons offer hair styling services, as well as beauty products, including Aveda, Bumble and Bumble and Redken. The spas offer massage therapy, skincare, nail and pedicure services and other body treatments. Eight of the salons and spas operate under the name Carmen! Carmen! Prestige Salon and Spa at Belk, two under the name Richard Joseph Studio Salon/Spa at Belk, and the balance under the name Belk Salon and Spa.
Belk Gift Registry
The Company’s gift registry offers a line of bridal merchandise that can be registered for and purchased online at belk.com or in local Belk stores and shipped directly to the customer or gift recipient. The gift registry is an integrated system that combines Internet technology and in-store shopping. Brides and engaged couples can create their gift registry and make selections through the belk.com Website, or they can go to a Belk store where a bridal consultant can provide assistance using the store’s online gift registry kiosk.
Belk Proprietary Charge Programs
The Company’s customer loyalty program (Belk Rewards Card Loyalty Program) issues certificates for discounts on future purchases to Belk Rewards Card customers based on their spending levels. Customers who spend more than $1,500 annually at Belk qualify for a Belk Elite Rewards Card that offers additional benefits, including a specially designed black Elite credit card, triple points events, a 20% off birthday shopping pass, points that never expire, quarterly Pick Your Own Sale Days and free shipping coupons.
Inventory Management and Logistics
The Company operates four distribution facilities that receive and process merchandise for delivery to Belk stores and belk.com customers. A 410,000 square foot distribution center in Blythewood, SC services the stores located in the northern and eastern areas of the Company’s footprint, a 174,000 square foot distribution center at the Greater Jackson Industrial Park in Byram, MS services the central and western areas; an 8,300 square foot distribution center in Ridgeland, MS services the Company’s jewelry operations, and a 259,000 square foot distribution center in Pineville, NC services orders from the belk.com Website.
Belk’s subsidiaries engage in businesses that indirectly or directly support the operations of the retail department stores. The non-retail businesses include United Electronic Services (UES), a division of the Company, which provides equipment maintenance services to Belk stores and third parties.
The Company competes with J.C. Penney Company, Inc., Dillard’s, Inc., Kohl’s Corporation, Macy’s, Inc., Sears Holding Corporation, Target Corporation and Wal-Mart Stores, Inc.
2801 West Tyvola Road
CHARLOTTE NC 28217-4500