Belk's Stores

Belk, Inc.
· 1888: William Henry Belk opened a small store named the New York Racket, in Monroe, N.C.
· 1899: Harry-Belk Bros. Co. store opened in Greensboro at the corner of Washington and Elm Streets. It was the 5th or 6th store opened in the chain.
· 1939: Belk built a new $400,000 Greensboro store located at the corner of Elm and Market Streets. It was three-stories, with 88,000 square feet and was designed by George Hartmann.
· 1952: William Henry Belk died.
· 1957: The first Belk store in N.C. that was located in a suburban shopping center opened at the Friendly Center.
· 1975: Belk’s left downtown Greensboro for Four Seasons shopping mall.
· 1980: Belk’s stores purchased Younts-DeBoe, a downtown Greensboro men’s clothing established in 1923.
· 1988: Belk’s had 350 stores in 325 cities, employed 33,000 people and celebrated its 100th anniversary.
· 1989: Belk’s announced plans to add 45,000 square feet and a third floor to their space at the Four Seasons mall.
· 1998: Belk’s 112 stores consolidated into one entity called, Belk, Inc.
· 2011: Belk posted a $600,000 profit for the third quarter, up from a $4.2 million loss from same period in 2010.
· 2012: Posted an $11 million profit for the third quarter; remodeled and expanded 19 stores, and renovated departments in 10 stores at a cost of $78 million. Operated 303 retail stores in 16 southern states.
· Mar. 29, 2013: Market Cap: $1.81 billion.
. May 29, 2013: Belk celebrates 125th anniversary.
. July 2013: Construction started on a $7 million, 75,000-square-foot store at the Palladium shopping center.
. Mar. 12, 2014: Belk's new store at the Palladium shopping center opens. The new store is one-story and 75,000-square feet.
. July 8, 2014: Belk announces grand opening plans for its two Friendly Center stores. The new 29,000-square-foot Belk home store selling home goods will open July 25. The main store, will have its grand opening on Oct 15.
. July 25, 2014: Grand opening held.
. April 1, 2015: Belk, Inc. announced that they hired investment bank Goldman Sachs Group Inc to help it evaluate strategic alternatives, including a potential sale.The department store chain is the largest family-owned and operated department store chain in the U.S. and operates 297 stores in 16 states.
- Aug. 24, 2015:Belk Inc. announced an agreement to be sold to New York private-equity group Sycamore Partners for $3 billion.
- Dec. 10, 2015:Sycamore Partners, a private equity firm based in New York, announced that it has completed its acquisition of Belk.

Sources: News & Record archive, Reuters, Triad Business Journal

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