Reginal Thomas
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Department StoreS Belk Looking For A Potential Sale

Belk Inc. is looking for a sale that could value the family owned and operated department store chain in the United States at $4 billion; including debt. Belk hired Goldman Sachs Group Inc., an investment bank, to advice them on strategic alternatives including a potential sale.

Firms such as Macy’s Inc., Bon-Ton Stores Inc., Nordstrom Inc. and private equity firms will be contacted by Belk over their interest in a potential deal. Belk is expected to have annual earnings of $400 million. In the year ending on Jan. 31 2015, Belk had net sales of $4.1 billion, up 1.8% compared to the previous year.