Belk Q4 sales increased to $1.39 billionStaff writer ▼ | March 27, 2015
Belk announced operating results for the fourth quarter ended January 31, 2015. Net sales for Q4 increased 5 percent to $1.39 billion.
Fashion store Online sales increased 42.2 percent
Net sales for fiscal 2015 totaled $4.11 billion, an increase of 1.8 percent, compared with net sales of $4.04 billion in fiscal 2014. On a comparable store basis, net sales for fiscal 2015 were up 1.5 percent. Online sales increased 43.3 percent for fiscal 2015 and positively affected the company’s comparable store sales by 2.1 percent for the period.
Merchandise categories achieving the highest growth rate for the year include activewear; ladies contemporary, resort and bridge fashions; ladies suits; men’s sportswear; and juniors.
Fourth quarter net income increased 8.3 percent to $104.4 million compared to the same prior year period. The increase was primarily the result of a 5.2% increase in holiday sales for the nine week period ending January 3, 2015.
Net income excluding non-comparable items totaled $107.7 million in the compared to $97.4 million in the prior year period.
Net income for the period totaled $146.1 million compared to $158.5 million in the prior year. The decrease was primarily the result of higher expenses associated with the company’s investments in strategic initiatives during the period. Net income excluding non-comparable items totaled $148.4 million in fiscal 2015 compared to $161.0 million in the prior year period.
The company’s board of directors declared a regular dividend of $.80 per share for stockholders of record on March 26, 2015. ■