"These improvements to our store are a sign of Belk's ongoing commitment to be the department store of choice in Monroe," says Don Robinson, store manager. He adds that the expansion will allow Belk to offer a greater variety of brands and products demanded by customers.
Belk's original store relocated to Monroe Mall in 1979. The current store offers top designer and national brand apparel, cosmetics, accessories, shoes and home furnishings, as well as its own private-brand merchandise and a new Belk and Co. fine jewelry department.
Charlotte-based Belk has at least 300 stores in 16 southern states and is in its third generation of family leadership. The company acquired and rebranded 25 Parisian department stores from Saks Inc. in October 2006 and expects to complete integration of those stores into the chain late this year.
In its most recent financial report for the fiscal year ending Feb. 2, Belk posted a 3.8% increase in net sales of $3.8 billion, largely resulting from the Parisian additions. However, cost associated with that acquisition, combined with a weakening national economy, resulted in a 47% decline in net income, finishing the year at $95.7 million.
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