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CU Medallion [55655]
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Surruss qweshun is surruss: How does Belk make money?
Dec 12, 2018, 9:46 AM
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When I need something cheap or next to free, I shop at Belk. Between their coupons and sales, they give stuff away. Buy 1, get 2 free deals. 40% off on clearance merchandise, etc. I once got a running shirt for less than $2.00.
I assume the markup on clothing is pretty high, but still, how do they make money? The margins can't be very good.
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All-In [35541]
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Dept stores know they are already losing to Amazon
Dec 12, 2018, 9:48 AM
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so might as well dump it all while people still shop in public.
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All-TigerNet [12098]
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Old people like my momma that don’t wait for sales
Dec 12, 2018, 9:49 AM
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and pay full price, then ##### incessantly about how expensive clothes are these days.
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CU Medallion [59974]
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Re: Old people like my momma that don’t wait for sales
Dec 12, 2018, 9:51 AM
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this is true too, but you can’t count on this or you will be JC Penny in a hurry.
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CU Medallion [59974]
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Re: Surruss qweshun is surruss: How does Belk make money?
Dec 12, 2018, 9:50 AM
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Because most of it, say Columbia for instance comes in at a 62-65% margin. Then, they will actually fund the sale up to 5% or so. So really they are making typically no less than 45% margin when it’s all said and done.
IZOD and such will come in a 70% or better. It’s incredible. Vineyard Vines, Yeti, Guy Harvey are a wash at that kind of sale as they come in much lower.
Not that I have ever been a buyer or in sales or know the business. 
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CU Medallion [55655]
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So are all the Izod and Chaps Buy 1, Get 2 Free and
Dec 12, 2018, 10:05 AM
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Saddlebred giveaways (and other store brand merch) basically loss leaders? Or do they still make money on a Buy 1, Get 2 for Free sale?
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Oculus Spirit [75673]
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Perfume, makeup, and people who don't buy off the clearance
Dec 12, 2018, 9:54 AM
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rack.
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CU Medallion [55655]
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Who in da hail shops perfume and makeup at Belk?***
Dec 12, 2018, 10:06 AM
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Heisman Winner [105432]
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WifeOfGreenr did/does for Clinique stuffs
Dec 12, 2018, 10:15 AM
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I assume that is where you have to go to buy that. I may be wrong, however.
It is very asspensive.
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CU Medallion [55655]
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Meh. Mrs. PAW and lil'APMette get their stuff online and at
Dec 12, 2018, 10:21 AM
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some mall store. Ulta?
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Heisman Winner [105432]
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I believe we have switched to Ulta. I had to sit in the car
Dec 12, 2018, 10:37 AM
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outside there the other day with the boys while the girls went in. I assume that means we are paying MORE now for Makeup. It NEVER goes down in price.
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All-In [46796]
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Could be worse. Cousin is selling those
Dec 12, 2018, 10:40 AM
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weight loss "wraps"
People are taking saran wrap and wrapping it around their stomach thinking it will take off fat.
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Heisman Winner [135476]
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Believe it or not, one of the best weight loss regimens was
Dec 12, 2018, 10:50 AM
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indentured servitude, but the rise in popularity of charity has ruined that once-proud American tradition.
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Heisman Winner [105432]
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Oculus Spirit [75673]
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Oculus Spirit [97658]
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All-In [46796]
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No idea. I bought a pack of gum at Belk and
Dec 12, 2018, 9:55 AM
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saved $400 according to their cashier
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Heisman Winner [135476]
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Shopping Belk clearance racks is like getting paid to take
Dec 12, 2018, 9:57 AM
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their stuff. A couple of years ago, I got a short sleeve Southern Proper shirt off clearance and with coupons and ended up paying SEVENTY FIVE CENTS. For real. The retail tag on that one shirt was something like $75.00 if I remember correctly. The preppy boutique brands are not my norm, but this was a pretty cool looking salt water fishing motif, and it's a comfy shirt to boot.
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CU Medallion [55655]
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Exactly. They practically give stuff away or pay you to take
Dec 12, 2018, 10:07 AM
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it.
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Heisman Winner [135476]
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I've scored some sweet Clemson swag off Belk clearance
Dec 12, 2018, 10:45 AM
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racks over the years as well.
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CU Medallion [73569]
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wait, you have Belk in Roanoke? i didnt realise they were in
Dec 12, 2018, 10:02 AM
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VA
Also, i dont see how any dept store makes money. That is a lot of inventory and i bet they dont sell 20% of it.
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CU Medallion [55655]
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Yep. But we don't have Dillards. Or Lowe's Foods. Or Publix.
Dec 12, 2018, 10:09 AM
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Or Academy Sports. Stuff they have further south.
But we do have Sheetz and for that I am thankful.
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CU Medallion [73569]
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I'm more of a WaWa guy. Subs better than subs places
Dec 12, 2018, 10:25 AM
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and best smoothies.
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All-TigerNet [12098]
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CU Medallion [55655]
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Heisman Winner [135476]
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All-In [47663]
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CU Medallion [73569]
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lol, ya, I've gotten stuff from Belk
Dec 12, 2018, 10:26 AM
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and I'm like, I guess I'm stuck with it 
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All-In [26674]
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Good god, that town brings back horrible memories
Dec 12, 2018, 10:43 AM
[ in reply to There's one in Farmville too. ] |
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from my past company. However, that one sandwich shop in town was magnificent, until we had eaten there every day for 3 weeks. Then it got kind of old.
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All-In [46796]
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They will go belly up after my great aunt passes away
Dec 12, 2018, 10:10 AM
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she's the only one keeping the local Belks in business. Also the only one that is still buying animal print clothing that isn't thongs. Or she may be buying those too I don't know her life
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CU Medallion [55655]
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lulz. I feel ya. When I do go in Belk, I am the youngest by
Dec 12, 2018, 10:12 AM
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a good 20 years and I'm 51.
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CU Medallion [60205]
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you wanna feel like a kid again, go to Hamrick's
Dec 12, 2018, 1:30 PM
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my god the avg age in there is pushing 80. So much so that they have park benches by the front door for the old folks to nap/loiter. I'm not sure Clemson Downs could beat their median age.
I went there because they had Atomic Beam flashlights/lanterns on sale for $5 (my goal is to have one of those located within reach in every key zone of my property for anticipated outages). I was just stunned at the geriatric population.
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CU Medallion [55655]
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lol'd @ "nap/loiter" because it's SO TRUE!
Dec 12, 2018, 2:03 PM
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Everytime I go in that joint (once or twice a year), I am struck by the populated benches you mention and the SLOWNESS of the checkout lines.
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CU Medallion [50635]
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i hang out at the benches and
Dec 12, 2018, 6:18 PM
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the older folks look at me like when i was your age---
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Heisman Winner [137789]
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Re: Surruss qweshun is surruss: How does Belk make money?
Dec 12, 2018, 10:14 AM
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All-In [36448]
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Duh, they make all their money off the Belk bowl bc coots always in it.***
Dec 12, 2018, 10:21 AM
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Heisman Winner [135476]
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It's hard NOT to make money on $11 Bud Lights.***
Dec 12, 2018, 10:48 AM
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All-TigerNet [12505]
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How does Belk make money?
Dec 12, 2018, 10:56 AM
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He plays for the coots. So he gets a free hotel room and pockets the housing stipend. Spends most of it on food, though.
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Legend [17239]
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Thank the women & children in China, Vietnam and Bangladesh***
Dec 12, 2018, 10:56 AM
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CU Medallion [58376]
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And those sales are year-round. I used to think
Dec 12, 2018, 12:59 PM
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I had to go around father's day or such but dang, that shid is always on sale, no matter when I go. The "Buy 1-Get 2 Free", etc. ... all of it.
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CU Medallion [59974]
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Re: And those sales are year-round. I used to think
Dec 12, 2018, 2:03 PM
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Sorry, just getting back to this thread.
Couple of issues at work here. They are creating a brand experience by pricing high and then clearance. So in essence the t-shirts you buy at WaWa cause your kid threw up on you could very well be made at the same place a Saddlebred. They have just created an experience for you. So it comes in at 70% margin and they can BOGO it all day long and make money. They will make money until about 32%. Below 32% is really challenging to stay alive. Most big box guys will run about 48%. My last company had retailers living on super low margins, zero clearance and very very high internal margin.
My current company is a little more generous as we come in a bit higher and lower the internal margin. It’s a constant game. I have been a buyer and sales rep for 18 years and it pains me to buy anything cause I typically know the cost within a couple bucks. However, it’s the retail world and I love it. Very dynamic and super fun from a buyers and sales aspect.
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Oculus Spirit [93605]
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They make their money selling fashionable clothing...
Dec 12, 2018, 6:21 PM
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early. We, being southern dwellers, are ready for winter clothes about the time Belk puts them on sale and starts ordering spring fashions. Rinse and repeat. I never rush out and buy Belk products when they first hit the shelf.
Of course fashion is so important to me I buy next winter's clothes when they hit rock bottom sometimes around March when it's too hot to wear them. In all my years I've never had anyone point out that all my fashions are one to five years behind.
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