Charlotte-based Belk said Tuesday that it plans to open two new stores in Texas, including a flagship location in Dallas that will replace a Saks Fifth Avenue store.
Belk is the nations largest privately-held department store company, with more than 300 stores. The Dallas store will be located in the Galleria mall, and company officials said it will total 170,000 square feet.
The Saks Fifth Avenue currently in the Galleria will close on June 15, 2013, and Belk will then refit the space. The company said it is making a $20 million joint investment with the mall operator on construction. The flagship-level location will join Belk flagship stores in SouthPark, Raleigh and Atlanta.
Also Tuesday, Belk said it will open another new store in New Braunfels, Tex., at a cost of $9.5 million. The two stores will add to Belks current total of 13 Texas locations.
Texas has been a very strong market for us, and we see great opportunities for growth in the state, said CEO Tim Belk, in a statement.