Thursday September 5th, 2013 - 1:54PM
Belk, Inc. has announced operating results for its fiscal second quarter and six months ended August 3, 2013.
It reported a comparable store sales increase of 3.2% in the second quarter, or 4.2 percent year-to-date. Its second quarter eCommerce sales grew 49.5%, the retailer reported. The net income rose 11.3% in the second quarter.
Tim Belk, chairman and chief executive officer of Belk, Inc., said, “Although we continue to see a softening retail environment, we are pleased to report another quarter of sales and earnings growth driven in part by the investments we are making in the business. While those investments impact our short term profitability, we are confident they will position us well for the future.”
Net sales for the 13-week period increased 3.6% to $899.5 million compared to the prior-year period. Comparable store sales grew for the 14th consecutive quarter with a 3.2% increase. The sales increase for the period resulted primarily from a continuation of strong eCommerce sales and execution of the company’s key strategies, the company reported.