Lisa M. Harper
John R. Belk
Belk was founded in the year 1888. The company has been operational for almost 131 years now. The founder of the company was William Henry Belk. The former name of the company was New York Racket, which was again later changed to Belk Brothers, when the founder's brother, known as Dr John Belk, had become the partner of the company. The company used to buy goods at bulk volumes and therefore pass off the savings to the customers and consequently sold products at fixed rates, which was a pretty unusual practice during that time. By the year 1909, the company had moved its headquarters to Charlotte, USA. The store was closed in the year 1988, in order to make way for the corporate centre of Bank of America. The business started to grow steadily with bargain sales, along with advertising, which helped to expand its influence towards the south of the USA.
In the year 1921, the company had collaborated with the Leggett Bros, by investing in partnerships together with local merchandisers in markets that were nearby. The first Belk store was opened at the west of Mississippi, in the year 1947. During the year 1990s, the company had become untenable as it was controlled by almost 350 separate legal entities. In the year 1996. Tom, as well as John Belk, were forced to form a new company by buying out the Leggetts. This moved helped in the slow consolidating of the store’s ownership under the Belk family. In the year 1998, the company had formed a separate entity, known as Belk Incorporated. The company had merged with the remaining 112 Belk companies as well. In the year 2005, the company had taken over 47 stores from Proffitt's and McRae's, which was under the Saks Incorporated. All of the stores were converted to Belk. The company also had purchased almost 38 Parisian department stores as well, and most of them were converted to the Belk nameplate. During the year 2005, the company had sold off its Belk National Bank to the GE National bank. All the new Belk Banks are now being issued by GE Moneybank and therefore are known as Synchrony Bank. In the year 2010, the company had introduced a new logo. During the year 2015, it was reported that the company was planning to sell off its assets. The same year, the company was amalgamated with Sycamore Partners. The headquarters of the company is based in 2801 W Tyvola Road. The name of the place is Charlotte, while the name of the state is North Carolina, USA. The pin code of the area is 28217.
Belk is an American company that focuses on the establishment of various types of mainline departmental stores all over the 16 states in the USA. The current CEO of the company, Lisa Harper. As of the year 2017, the total revenue generated by the company is more than $3.7 billion. Also, the number of employees working at the company, as of the year 2017, is more than 25,000. The company has its presence in over 300 locations all over the 16 states in the USA. The company had also established its own e-commerce website as well, selling various kinds of home decor, home furnishing products, gifts, etcetera.
The primary services provided by the company include allowing customers to have a retail presence in order to purchase various kinds of products such as clothing, bedding, footwear, furniture, beauty products, jewellery products, housewares, home decor products, home furnishing products, bridal and wedding accessories and many more.
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