CHARLOTTE, NC-Locally-based Belk Inc. says it will spend approximately $100 million on real estate projects this fiscal year, with about half being invested in capital spending.
The 45 projects in the pipeline are up from 30 completed last year at a cost of $76 million, according to Ralph Pitts, executive vice president for Belk. This year's capital projects involve store remodeling, department upgrades, expansions and new stores.
Plans call for the construction of three new stores in fiscal 2014, which ends in January 2014, that include relocating two existing stores and building a new, $9.5-million fashion store in New Braunfels, TX, according to the Charlotte Business Journal.
The department store chain, which operates 301 stores in 16 Southern states, will explore opportunities to add new stores, Pitts says. See story in the Charlotte Business Journal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
