Last Belk Family Member to Retire

Total Retail’s Take: Belk has closed a net total of 17 stores since 2007. By selling itself to Sycamore Partners, it’s in a better position to succeed in a time of e-commerce growth. This will also mark the first time a non-family member will run Belk. This change will be good for the chain because it allows for a different perspective on the business. The company has been family-operated for well over 100 years and in a time of declining retail sales, new ideas can be good for business.