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.
Portillo: 704-358-5041 On Twitter @ESPortillo
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