Belks third-quarter sales and profit rose, the company said Tuesday, as e-commerce revenue surged and the Charlotte-based department store company completed store remodels.
Sales were $837.5 million for the 13-week period ending Oct. 27, up 5.9 percent compared with the same period a year ago. Sales at stores open a year or more, considered a key measure of a retailers health, rose 5.8 percent.
Mens, kids and home goods saw the strongest sales increases, Belk said. And e-commerce sales, which have been a major focus of the companys efforts, shot up almost 71 percent. A key factor in our sales growth is the significant investment were making across many areas of our business, including technology, store expansions and remodels, e-commerce, and service excellence, said CEO Tim Belk, in a statement.
Profit increased 18-fold from the same quarter last year, to $11 million.
The company has remodeled and expanded 19 stores, and renovated shoe and accessory departments in 10 of its stores so far this year, at a cost of $78 million. The remodels have added more floor space to Belks existing stores, including one at Carolina Place in Pineville, and updated the stores interiors to make them more appealing to customers.