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Belk net jumps 43.5 percent in fiscal 2012

from Home Furnishings News

Belk Inc. posted a 43.5 percent increase in net income, to $183.1 million, for its fiscal year 2012 ending on Jan. 28. The bottom line grew measurably blacker for the department-store retailer thanks to an increase in sales, improved margins and expense leverage. Net sales rose 5.3 percent to $3.7 billion, including a 5.5 percent gain in same-store sales. more


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