Belk / Belk’s Department Store (US)

All Belk / Belk’s Department Store (US)

Charlotte. Belk Store Services, Belk, Belk-Leggett, Belk-Hudson, Belk-Tyler, Hudson-Belk, Belk-Beery
Belk Founder William Henry Belk, 1888, Monroe, North Carolina. 1891-Belk Brothers Co, John Belk joins as partner. 1921-Will Leggett, John's nephew by marriage and his brother Fred begin a partnership with Belk, with the Leggett's owning 80% of the stores they opened & the Belk's owning 20%), opening Belk-Leggett stores. The brothers were known to add store managers names to their own on new stores that were opening, thus all of the varied store names. 1952-Founder & CEO (1888-1952), William Belk dies at 89. His son Henry Belk takes over and sons John & Tom are active in the company. 1955 – Henry Belk opens a fancy Belk Shopping Center Store in Florida (Belk-Lindsay Co), a store that not approved and without Belk values. Family and Shareholders become upset and after opening several more stores without permission, Henry leaves his position as President to remain in Florida, beginning 40 years of family feuds. John Belk was then elected President, and quickly promoted to Chairman/CEO with his brother Tom becoming President. Belk Store Services is created and cuts all ties with Belk-Lindsay and Henry Belk. With the Belk private label products, the company grew to over 325 stores by 1956 and acquired their only competitor, Efird Stores. 1958 – 380 stores, 17 states. In the 1980s, Thomas Belk becomes President and under his direction, the company successfully enters the world of fashion. 1997 – Thomas Belk dies at 71 after surgery. His 3 sons takeover the position of President, equally divided between the 3 of them (Thomas “Tim” Belk, HW Belk, John R Belk). Belk Inc is formed from the 112 companies that make up Belk, 225 Stores and 29,000 Employees. 2004 – John Belk, the founders son, retires as Chairman/CEO after 50 years (1955-2004). Leaving the company in very good condition with profits up $111.5 million & $2.3 billion in sales in 2004. Thomas “Tim” Belk becomes the new Chairman/CEO, his 2 brothers are appointed as officers of the company. Belk, Inc. is the largest privately held and family owned Department Store chain in the US.
RN31104

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