Belk
Encyclopedia
Department store
A department store is a retail establishment which satisfies a wide range of the consumer's personal and residential durable goods product needs; and at the same time offering the consumer a choice of multiple merchandise lines, at variable price points, in all product categories...
chain founded in 1888 in Monroe, North Carolina
Monroe, North Carolina
Monroe is a city in Union County, North Carolina, United States. The population was 36,397 as of the 2010 census. It is the seat of government of Union County and is also part of the Charlotte-Gastonia-Rock Hill, NC-SC Metropolitan area.-Geography:...
, today part of the Charlotte metropolitan area
Charlotte metropolitan area
The Charlotte metropolitan area is a metropolitan area/region of North and South Carolina within and surrounding the city of Charlotte...
. After the founding of the first Belk store, the company grew in size and influence throughout the South
The South
-Geography:* Southern United States* South of England* South of France* South Italy* South Korea* Republic of Ireland* South Province * Global South, the developing nations of the world-Other uses:* The South , by Victor Erice...
via the chain in the USA, with its stores primarily located in the Southern USA.
The chain has four flagship locations:
- SouthPark MallSouthPark Mall (Charlotte, North Carolina)SouthPark Mall is an upscale shopping mall located in Charlotte, North Carolina. With , SouthPark Mall is the largest mall in Charlotte and the Carolinas. It is the 10th largest on the East Coast and is the 28th largest in the United States. The area around SouthPark Mall is the most congested...
, in Charlotte, North CarolinaCharlotte, North CarolinaCharlotte is the largest city in the U.S. state of North Carolina and the seat of Mecklenburg County. In 2010, Charlotte's population according to the US Census Bureau was 731,424, making it the 17th largest city in the United States based on population. The Charlotte metropolitan area had a 2009...
, houses the chain's largest store, with more than 330000 square feet (30,658 m²). The store was built in 1970 as one of the mall's original anchor stores. The mall was co-developed by the Belk and IveyIvey'sIvey's , a former department store chain, was acquired by Dillard's, Inc. in 1990. Ivey's was based in Charlotte, North Carolina, and was founded in 1900 by Joseph Benjamin Ivey.-History:...
families. - Crabtree Valley MallCrabtree Valley MallCrabtree Valley Mall is a regional mall located in Raleigh, North Carolina. At , it is the largest enclosed mall in the Triangle. Crabtree Valley contains over 220 stores and is anchored by Belk, Sears, and Macy's. Higher-end restaurants located in the mall include The Cheesecake Factory, P. F...
. in Raleigh, North CarolinaRaleigh, North CarolinaRaleigh is the capital and the second largest city in the state of North Carolina as well as the seat of Wake County. Raleigh is known as the "City of Oaks" for its many oak trees. According to the U.S. Census Bureau, the city's 2010 population was 403,892, over an area of , making Raleigh...
, is where Belk built a similarly elaborate 251000 square feet (23,318.7 m²) store in 1972 (subsequently expanded to 320000 square feet (29,729 m²) in 2007) in North Carolina's high-tech Research Triangle. - The Summit, in Birmingham, AlabamaBirmingham, AlabamaBirmingham is the largest city in Alabama. The city is the county seat of Jefferson County. According to the 2010 United States Census, Birmingham had a population of 212,237. The Birmingham-Hoover Metropolitan Area, in estimate by the U.S...
, houses the third flagship, built in 1997, which opened as a Parisian store and one of the lifestyle center's original anchors. Its intended conversion to a Belk flagship was officially announced on April 25, 2007, with the reorganization complete by September 2007. - Phipps PlazaPhipps PlazaPhipps Plaza, owned by Simon Property Group, is an upscale regional mall in Atlanta, Georgia anchored by Belk, Nordstrom and Saks Fifth Avenue. Located adjacent to its sister-mall Lenox Square, in the Buckhead district, Phipps has more than 100 specialty shops, five full-service restaurants, a food...
, in Atlanta, GeorgiaAtlanta, GeorgiaAtlanta is the capital and most populous city in the U.S. state of Georgia. According to the 2010 census, Atlanta's population is 420,003. Atlanta is the cultural and economic center of the Atlanta metropolitan area, which is home to 5,268,860 people and is the ninth largest metropolitan area in...
, contains the fourth flagship, which also opened as Parisian, part of a 1992 expansion of the mall in which the store became the third mall anchor. Like the store at The Summit, it converted to a Belk by September 2007, although its conversion to flagship wasn't officially announced until November 2, 2007.
History
Founded in 1888 by William Henry Belk, the store was first called "New York Racket" and then "Belk Brothers," after Belk made his brother, Dr. John Belk, a physician, as his partner.By 1908, the company had moved its headquarters to Charlotte and built a giant flagship store on Trade and Tryon Streets in downtown Charlotte. That store was closed in 1988 to make way for what is now Bank of America Corporate Center
Bank of America Corporate Center
The Bank of America Corporate Center is an 871 ft skyscraper in Uptown Charlotte, North Carolina. When completed in 1992, it became and still is the tallest building in North Carolina as well as the tallest building between Philadelphia and Atlanta, Georgia; it is 60 stories high. It is the...
and the North Carolina Blumenthal Performing Arts Center
North Carolina Blumenthal Performing Arts Center
The North Carolina Blumenthal Performing Arts Center is located in Charlotte, North Carolina. It opened in 1992 and is named in honor of the people of the state of North Carolina and the Blumenthal Foundation established by I.D. Blumenthal who founded RSC Brands, the largest private donor to the...
.
The business grew steadily, relying on "bargain sales" and advertising to grow the business. Today, the chain is still family-owned and currently has 306 stores in 19 states, particularly in the Carolinas
The Carolinas
The Carolinas is a term used in the United States to refer collectively to the states of North and South Carolina. Together, the two states + have a population of 13,942,126. "Carolina" would be the fifth most populous state behind California, Texas, New York, and Florida...
, along with the Atlanta and Birmingham
Birmingham, Alabama
Birmingham is the largest city in Alabama. The city is the county seat of Jefferson County. According to the 2010 United States Census, Birmingham had a population of 212,237. The Birmingham-Hoover Metropolitan Area, in estimate by the U.S...
metro areas. The Atlanta area now has the largest concentration of Belk stores in any of its markets. The westernmost Belk stores are located in Waco, Texas and Stillwater, Oklahoma; while the northermost Belk is located in Westminster, Maryland and the southernmost Belk store is in Fort Myers, Florida. In 2006, Belk generated US$2.97 billion in sales and employed 17,900 people.
During the fourth quarter of 2005, Belk completed the sale of their private label credit card division, Belk National Bank, to GE MoneyBank. Consumers were issued new Belk credit cards replacing the old ones issued by BNB. All new Belk cards are now issued by GE Money Bank.
On July 5, 2005, Belk completed the purchase of 47 Proffitt's
Proffitt's
Proffitt's was a department store chain based in Alcoa, Tennessee. On March 8, 2006, the Proffitt's and McRae's stores were converted into Belk stores. Belk acquired the two chains in July 2005 from Saks Incorporated.-Beginnings:...
and McRae's
McRae's
McRae's was a mid-range regional department store chain founded and based in Jackson, Mississippi, with locations in Mississippi, Alabama, Louisiana, and Florida. The nameplate was in existence for more than a century.-History:...
department stores from Saks Incorporated
Saks Incorporated
Saks Incorporated , founded in Birmingham, Alabama in 1998, is headquartered in New York City, New York, and is a Fortune 1000 operator of high-end department stores in the United States under the nameplate Saks Fifth Avenue. Saks evolved from Proffitt's Inc. after Proffitt's changed its name in...
. Belk converted the 39 Proffitt's and McRae's stores to the Belk nameplate on March 8, 2006. Just over a year later, Belk purchased 38 Parisian department stores from Saks on October 2, 2006. Although most Parisian stores were converted to the Belk nameplate since September 12, 2007, some Parisian stores were closed in cases of duplicate stores in developments, such as the Parisian locations at The Mall at Barnes Crossing in Tupelo, Mississippi, Richland Mall in Columbia, South Carolina, and at Citadel Mall in Charleston, South Carolina
South Carolina
South Carolina is a state in the Deep South of the United States that borders Georgia to the south, North Carolina to the north, and the Atlantic Ocean to the east. Originally part of the Province of Carolina, the Province of South Carolina was one of the 13 colonies that declared independence...
. Four stores in Indiana, Michigan, and Ohio, plus a store under construction at the time in Michigan, were sold by Belk to The Bon-Ton Stores, Inc. Belk additionally traded its newly acquired Parisian location in Collierville, Tennessee
Collierville, Tennessee
Collierville is a town in Shelby County, Tennessee, United States, and a suburb located in the Memphis metropolitan area. The town had a population of 43,965 at the 2010 census....
, with Macy's, Inc. for a Macy's (former Hecht's
Hecht's
Hecht's, also known as Hecht Brothers, Hecht Bros. and the Hecht Company, was a large chain of department stores located mainly in the mid-Atlantic and southern region of the United States....
) in Wilmington, North Carolina
Wilmington, North Carolina
Wilmington is a port city in and is the county seat of New Hanover County, North Carolina, United States. The population is 106,476 according to the 2010 Census, making it the eighth most populous city in the state of North Carolina...
, during the second quarter of 2007.
Belk also now operates a store in the popular Branson Landing district in Branson, Missouri
Branson, Missouri
Branson is a city in Taney County in the U.S. state of Missouri. It was named after Reuben Branson, postmaster and operator of a general store in the area in the 1880s....
.
Even as Belk has made its recent acquisitions, the chain has operated limited electronic commerce
Electronic commerce
Electronic commerce, commonly known as e-commerce, eCommerce or e-comm, refers to the buying and selling of products or services over electronic systems such as the Internet and other computer networks. However, the term may refer to more than just buying and selling products online...
on its website, and those websites acquired and redirected to Belk.com. Home furnishings such as bedding, small kitchen appliances, crystal, dinnerware, and china have been offered for several years to online shoppers, as a part of the chain's online bridal and gift registry. The chain revamped their website and registry on September 15, 2008. Celebrity-branded product lines are another pursuit, including a partnership with actress Kristin Davis
Kristin Davis
Kristin Landen Davis is an American actress.She first rose to prominence and achieved fame for playing the role of Charlotte York Goldenblatt on HBO's Sex and the City. She has achieved success appearing in roles in film and television.-Early life and education:Davis was born in Boulder, Colorado...
for a ladies' apparel and accessories collection which debuted in fall 2008 in 125 store locations and online. However, that product line was discontinued in late 2009.
On October 3, 2010, the News & Observer reported Belk planned to update its logo. On October 12 at SouthPark Mall
SouthPark Mall (Charlotte, North Carolina)
SouthPark Mall is an upscale shopping mall located in Charlotte, North Carolina. With , SouthPark Mall is the largest mall in Charlotte and the Carolinas. It is the 10th largest on the East Coast and is the 28th largest in the United States. The area around SouthPark Mall is the most congested...
, Belk officially introduced the new logo, the first since 1967. The chain plans a $70 million marketing campaign that includes the slogan "Modern. Southern. Style." Sixty stores will get new signs in the first phase, and the remainder will get new signs in 2011. Advertisements for Belk & Co. jewelry continue to use a variation of the old logo.
Partnership names
Beginning in 1921 with the Leggett Bros. stores of South BostonSouth Boston, Virginia
South Boston is a town in Halifax County, Virginia, United States. The population was 8,142 at the 2010 census.- History :On December 8, 1796, the General Assembly authorized eight commissioners to establish at Boyd's Ferry on the south side of the Dan River the town of South Boston, named for...
, Virginia
Virginia
The Commonwealth of Virginia , is a U.S. state on the Atlantic Coast of the Southern United States. Virginia is nicknamed the "Old Dominion" and sometimes the "Mother of Presidents" after the eight U.S. presidents born there...
, the Belk family formed various partnerships with other merchandisers in different markets. (This complex story is chronicled in a book about the evolution of the company.) This unusual corporate ownership structure resulted in dual or hyphened names on many of their stores. In 1998, Belk bought out or merged away this partnership structure and formed Belk, Inc. from its 112 existing Belk companies, with certain well-established partnership names, such as Hudson Belk, used in the Triangle region of North Carolina
North Carolina
North Carolina is a state located in the southeastern United States. The state borders South Carolina and Georgia to the south, Tennessee to the west and Virginia to the north. North Carolina contains 100 counties. Its capital is Raleigh, and its largest city is Charlotte...
that remained in place until Belk's logo change in the fall of 2010.