Belk along with JoAnn stores are still listed as likely to default by the end of the year according to the latest Fitch report.
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In spite of their own in house publicity, media relations etc...stating things are looking up, big plans in place for Holiday season...blah, blah.
Kohls has been removed from the S&P 500 and placed in a lower tier of wannabe and used to be companies.
Macys has come out with similar positive guidance for the holidays. Musing that with inabilty to travel out of country, cruises out of question, even domestic travel boring...NYC without Rockettes, Broadway etc....people will be buying more stuff...gotta buy stuff!
Personally I'm not buying into that retail dream. Cars, homes, remodels, etc...otherwise a very low key holiday season headed our way.
Our Belk store lost two managers, we have only two left and a lady they made a “key carrier”
Belk, unlike Joann, is not hiring any associates. They can't even bring back all the furloughs.
Correct. Moody's has raised Joann's score and changed outlook to stable. Belks rating is still the same with outlook negative. I wish we knew more of Belks current finances. How often does Moody's update credit ratings?
Don’t believe everything you read! I know for a fact Joann is running up +50% to ly and adding jobs because we can’t keep up. Analysts have no idea what a private company is really doing. They are just guessing based on what they think might be the situation.
Some belk stores are running on just three managers )including the store manager, if that’s not a sign of bankruptcy, nothing is.
it seems like it will happen sooner in the store I work in. Things are getting worse on a daily basis. Staff are leaving so fast that there is nobody left to work except a few of us. Customers are so unhappy with the lack of stock and no place to check out that they have become abusive and we are still required to kiss their buts. My store manager is almost manic running around trying to keep things together. Belk corporation has not been particularly good to me but I am doing what I can for my managers as long as I can. Every day is a challenge but I am getting a good paycheck.