Chain Store Age
CHARLOTTE, N.C. - Belk Inc. said it is making suburbs around large cities a new priority for store locations. Belk said that it plans to focus on suburban communities surrounding larger metropolitan markets, and will boost its new-store size range to 50,000 sq. ft. to 100,000 sq. ft.
Belk outlined its growth strategy in its annual 10-K filing with the U.S. Securities and Exchange commission. The company also plans to continue looking for stores or divisions to acquire, the filing said.
Sounds like what Hechts did off Wendover in Greensboro. Belk-the new box store LOLOL
ReplyDeleteHey maybe they can take over vacated Walmarts and Kmarts in the future ;)
Belk actually has taken over several old Kmarts and Wal-Marts in the past few years. They tend to be great locations and the discounters don't see them as competition.
ReplyDeleteActually there was a tongue in my cheek as I wrote.
ReplyDeleteFolks are always so anti walmart and target and kmart for building big box stores, yet if it is something like a belk...people dont get so bent out of shape. Its the same thing-just a different atmosphere. (and I know walmart and kmart do not feel threatened or vice versa with belk if one or the other moves in the neighborhood...that would be insane if they did )
The ironic thing about that is that while nobody typically opposes a new Belk, they spend their money the "controversial" Wal-Mart. ;-)
ReplyDeleteThe line between "big box retailers" and "traditional retailers" continues to blur. Target and Wal-Mart are opening stores in malls while JCPenney and Belk seek freestanding locations. Even Macy's has directional signage, price-check scanners, and (fashionable) shopping carts, traits usually associated with the "big boxes."
ReplyDeleteRetailers who have long depended on malls for growth must now look to other locations in today's ultra-competitive retail environment. Belk's strategy echoes the rationale Sears gave when it acquired Kmart. Stores must be in the suburbs, but few malls are being built there.
Of the remaining major department store chains, Belk is best equipped to deal with being off-mall. The stores themselves tend to be fairly complete in selection for their markets, and they are willing to be flexible with store sizes and locate in small communities if needed.
ReplyDeleteWhat’s interesting is that by and large Belk customers have not warmed to a lot of the new “innovations” coming from Kohl’s and Federated. Generally speaking, they want to be treated in a manner more consistent with an upscale store, and after years of trying to scale back customer services, Belk has reintroduced them into all but their smallest stores.
These days, with so much competiton, customer service might just be Belk's saving grace... look at Nordstrom and Von Maur who parade these things.
ReplyDeleteBelk is starting to get back into that more personalized service that made them so popular. I'm glad to see it.
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