Belk Inc. bounced back from a sales decline in the third quarter to register healthy increases during the November-December holiday stretch.
Belk said overall sales for the two months were up 5.2 percent, with same-store sales up 4.8 percent and e-commerce revenues up 44 percent.
“Holiday sales got off to a strong start through the Thanksgiving weekend with positive momentum carrying through December,” said Tim Belk, chairman and chief executive officer. “Our customers responded well to our sales promotions and store assortments….We were encouraged by the lift in trend during the November-December period.”
The holiday performance represents a rebound for the Charlotte, N.C.-based department store chain after a third quarter in which its sales dropped 0.1 percent, to $860.7 million, and same-store sales fell 0.8 percent while e-commerce revenues rose 46 percent. Third-quarter gross margin softened to 30.3 percent of sales from 31.5 percent in the third quarter of 2013.
With 300 stores in 16 Southeastern states and an e-commerce site at belk.com, Belk is the largest privately held department store company in the U.S.