Just a word of advice. Belk is still $1.4 billion in debt, with only $225 million in cash from Sycamore. Where will Belk be in two to three years? Back to square one? Possibly in worse shape? Things are still very fragile with this company and each day it seems to be getting worse. Don’t drink the kool-aid.
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Correction. Ross and Dollar General are not doing poorly but the other brands are... I stand corrected.
Extended hours while cutting payroll is smoke and mirrors. They want to give the illusion that belk is doing well when it’s running on fumes even after bankruptcy. Has anyone noticed all the merchandise coming in from stein mart, Ross, GNC, dollar general, Jessica McClintock, and pier one imports? These are all defunct or nearly defunct retailers that Belk has purchased their leftover c-ap and is trying to unload it at a 500% markup. What a scam.
Yeah, Im not fully understanding the extended hours. They have a skeleton crew working because they cut back hours, but we're staying open longer. By 630 the store is a ghost town. But yeah, lets stay open longer in case that one customer comes in to buy a couple of thousands of dollars of merchandise.
Right?
What would be appreciated is to take those hours, properly staff the stores from 10-6, and close at 7. But what do we know? What do the customers know)
They are increasing the store hours to 9 pm everyday except Sunday. We are already dead customer wise and so tired. How are extra open hours going to help?
I couldn’t agree more. You can tell if a company is in serious trouble by the assortment and Belk is about as bad as it can get.