Belk leadership did a great job serving small towns and unserved markets with small store concept...now those are dead malls. think Texas and South Carolina...An strip centers with empty storefronts..
10 years ago those store where profit centers but that business model has changed..the Belk family saw the writing on the wall an GOT out at the perfect time!!!
Those small markets now are driven by online shopping vs going into a empty mall...also those markets were easy to get cheap labor...where Belk was the fancy store with great marketing and a crisp paperfold on a 8.99 Kim Rogers polo
I believe the family knew that they were late to the online game and they wouldn't be able to catch up....so bravo to them for selling and getting out....
They hired cheap store managers and used that over paid Rsvp to drive the business and ensure that store manager was worked like a dog.....while the stores were working on shoe string budgets ...it was the best job in town...so where were u going to go?!
I feel bad for long term associates in small markets ...they loved the Belk family, the brand and the customer...it will be GONE soon
Belk is done....
Thoughts