Bucking the trend among department stores to shrink their brick-and-mortar footprints, Belk will open three new stores and remodel 12 more as part of a nearly $40 million capital improvement plan. The first two new stores, in Evans, Ga. and Bowling Green, Ky., are scheduled to open in October 2017; the third store, in Hagerstown, Md., is set to open in 2018.
Additionally, Belk plans to invest nearly $10 million for remodels of 12 existing stores across its 16-state footprint, and use an additional $15 million for capital improvements such as parking lots, paint and roofing.
“We really want to be an asset to the communities in which we operate,” said Belk CEO Lisa Harper in a statement. “Our goal — and really, our hope — is to build lasting relationships with our customers and associates.”
The 292-unit department store chain, founded in 1888, remained family-owned until 2015, when it was acquired by Sycamore Partners for $2.7 billion.