Any and everything Belk does that is possibly underhanded or unethical ends up on this webpage. The company has had closed door meetings regarding this page and the funny thing about is that they can't do anything about it. Everything on here had happened, is going to happen, or is something Belk does not want out in the open. I'm glad social media allows people to become aware of how unethical companies have become.
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Whaaat? it's just a vineyard, a few rusted cruise ships, CEO stepping aside. Come on, there's nothing to see here. AHHHH.... blast those kids and their dog. And I would have gotten away with it.
Details about financials?
I have those.
At the time of chapter 11 in Feb, Belk had about $7,000,000 in the bank, not even enough to make payroll or pay rent for all the stores. Then after the "infusion" of cash from Syco which was about $225 million, Belk is still struggling to pay bills, renovate stores, make payroll, pay vendors, update technology, you name it. Just look at the condition of the stores, a complete mess stores are FILTHY and DIRTY, they can't even afford a new paint job, carpeting, visual supplies, ect. Meanwhile Lisa Harper, Don Hendricks, Jacob Hawkins, Nir Patel, and Leslie Riggs are making Zoom calls from their high end houses. Remember the "Belk Strong" video that raised eyebrows last year? Lisa Harper sitting in the office of her $4 million lakefront mansion while $16 an hour managers were forced to work 50 plus hours a week while their was a stay at home order with no lunch breaks.
The only people who know about the true financials of Belk are the executive leadership team (if you can call them that) and Sycamore. Everyone else is kept in the dark, so they can only speculate. But I have always said, if it looks like a duck, walks like a duck, it's a duck...meaning that there is corruption at the top levels that has not come to light yet....and may never come to light until Belk folds like Toys R Us did and the executives face possible legal troubles for wrongdoing. However, the I.R.S. and Feds let companies cook their own goose when it comes to any unethical business dealings, look at Former Toys R Us $1.1 billion lawsuit after their bankruptcy bonus...or even go back to the late 80s and early 1990s with Leona Helmsley and her corruption in New York City...It all comes out in the wash.
Frankly, more damning comments can be found on Indeed, naming actual store or home office departments.
What is interesting is the dearth of actual information posted about Belk's financials, sales/gross margins/shrink/net profits and such.
With so many here "in the know", you'd think better hard info would surface. Not just "they're gonna close soon."
Meanwhile Kohls is in the process of redesigning/renovating/converting some 850 stores with 3,000 sq ft Sephora shops as part of their continuing store re-imagining.
Belk, well they put a high end sunglass shop into 4 stores.
Lastly, wanna see Belk at its worst? Read the consumer complaint sites.
Belk has their own self created pr nightmare courtesy of p_d off customers. And that is shameful.