Belk, Inc. is an American department store chain founded in 1888 by William Henry Belk in Monroe, North Carolina, with 300 locations in 16 states. Belk stores and Belk.com offer apparel, accessories, home furnishings and wedding registry. Belk was founded in 1888 by William Henry Belk in North Carolina, outside Charlotte; the store was first called "New York Racket" and "Belk Brothers", after Belk made his brother, physician Dr. John Belk, his partner. Belk bought in volume to pass savings on and sold at fixed prices a unusual practice. By 1909, the company had moved its headquarters to Charlotte and built a huge flagship store on Trade and Tryon Streets in downtown Charlotte, which would remain the company's headquarters until it was closed in 1988 to make way for the construction of what is now Bank of America Corporate Center; the business grew relying on "bargain sales" and advertising to grow the business and increase its influence throughout the South. Beginning in 1921 with the Leggett Bros. stores of South Boston, the Belk company grew by investing in various partnerships with local merchandisers in nearby markets.
Belk's growth out of the Southeast was pushed by Earl Jones Sr and the Belk-Jones brand that opened the first Belk west of the Mississippi in 1947. The Jones family and the Belk-Jones brand continued to grow Belk's westward expansion; this complex story is chronicled in a book published by Belk – Belk, Inc.: The Company and the Family That Built It – about the evolution of the company. This structure allowed Belk to expand and permitted local variation, but resulted in a diluted brand identity since most stores were co-branded. By the 1990s, the system had become untenable: stores were held by over 350 separate legal entities, Belk family members disagreed about whether to maintain or sweep away the structure, some local partners threatened stability by selling their stakes. For example, the heirs of John G. Parks, majority owners of the Parks-Belk chain, sold their interests to Proffitt's, a competitor; the Belks sold their stake as well, although Belk would purchase the stores back as part of its acquisition of the entire Proffitt's chain.
When Proffitt's made an offer for the Leggett family's stake, which included 42 stores comprising about 20 percent of Belk's revenue and Tom Belk were forced to respond by forming a new company in 1996 that bought the Leggetts out. This move accelerated the slow trend of consolidating the store's ownership under the Belks. In 1998, the company formed a new entity that merged the 112 remaining Belk companies, swapping the existing partners' local interests for shares in the combined entity. Belk eliminated the dual brands, completing the process with a chain-wide Belk rebranding in the fall of 2010. On July 5, 2005, Belk completed the purchase of 47 Proffitt's and McRae's department stores from Saks Incorporated in Tennessee and Mississippi. Belk converted the 39 Proffitt's and McRae's stores to the Belk nameplate on March 8, 2006. Just over a year Belk purchased 38 Parisian department stores from Saks on October 2, 2006. Although most Parisian stores were converted to the Belk nameplate since September 12, 2007, some duplicate Parisian stores were closed, as at The Mall at Barnes Crossing in Tupelo, Richland Mall, Columbiana Centre in Columbia, South Carolina, Citadel Mall in Charleston, South Carolina.
Four Parisian stores in Indiana and Ohio, plus a store under construction at the time in Michigan, were sold by Belk to The Bon-Ton Stores, Inc. Integrating the larger, more upscale Parisian stores proved a challenge for Belk, spurred the creation of the company's flagship strategy. During the fourth quarter of 2005, Belk completed the sale of its private-label credit card division, Belk National Bank, to GE MoneyBank. Consumers were issued new Belk credit cards replacing the old ones issued by BNB. All new Belk cards are now issued by GE MoneyBank, now known as Synchrony Bank. On October 3, 2010, the News & Observer reported. On October 12 at SouthPark Mall, Belk introduced the new logo, its first since 1967; the chain embarked on a $70 million marketing campaign that replaced the old slogan "All for You!" with a new slogan, "Modern. Southern. Style." Sixty stores got new signs in the first phase, with the remainder getting new signs throughout 2011. Advertisements for Belk & Co. jewelry continue to use a variation of the old logo.
On April 3, 2015, news reports revealed that Belk was exploring "strategic alternatives," including a possible sale of the company. On August 24, 2015, Belk announced that it had entered into a definitive merger agreement to be acquired by New York-based private equity firm Sycamore Partners; the acquisition was completed on December 10, 2015. On June 29, 2016, Belk announced that effective as of July 5, Lisa Harper, CEO of Hot Topic, would replace Tim Belk as CEO of Belk; this would be the first time since the founding of the company that a non-Belk family member would head the company. The chain operates 293 stores in 16 states, generating $4 billion in sales in 2014, its typical store covers 100,000 to 180,000 square feet. 50% of its stores are in regional malls, another 40% in open-air community or retail parks, 10% in open-air lifestyle centers. As Belk has made its recent acquisitions, the chain has operated limited electronic commerce on its website, those websites acquired and redirected to Belk.com.
Home furnishings such as bedding, small kitchen appliances, crystal and china have be
Atlanta metropolitan area
Metro Atlanta, designated by the United States Office of Management and Budget as the Atlanta–Sandy Springs–Roswell, GA Metropolitan Statistical Area, is the most populous metro area in the US state of Georgia and the ninth-largest metropolitan statistical area in the United States. Its economic and demographic center is Atlanta, has an estimated 2017 population of 5,884,736 according to the U. S. Census Bureau; the metro area forms the core of a broader trading area, the Atlanta–Athens-Clarke–Sandy Springs Combined Statistical Area. The Combined Statistical Area spans up to 39 counties in north Georgia and has an estimated 2017 population of 6,555,956. Atlanta is considered a "beta world city." It is the third largest metropolitan region in the Census Bureau's Southeast region behind Greater Washington and Greater Miami. By U. S. Census Bureau standards, the population of the Atlanta region spreads across a metropolitan area of 8,376 square miles – a land area comparable to that of Massachusetts.
Because Georgia contains more counties than any other state except Texas, area residents live under a decentralized collection of governments. As of the 2000 census, fewer than one in ten residents of the metropolitan area lived inside Atlanta city limits. A 2006 survey by the Metro Atlanta Chamber of Commerce counted 140 cities and towns in the 28‑county Metropolitan Statistical Area in mid-2005. Nine cities – Johns Creek, Chattahoochee Hills, Peachtree Corners, Tucker and South Fulton – have incorporated since following the lead of Sandy Springs in 2005; the Atlanta metropolitan area was first defined in 1950 as Fulton, DeKalb, Gwinnett and Clayton counties. Walton, Douglas, Forsyth, Cherokee and Butts counties were added after the 1970 census, with Barrow and Coweta counties joining in 1980 and Bartow, Paulding and Spalding counties in 1990. Atlanta's larger combined statistical area adds the Gainesville, Georgia MSA, Athens-Clarke County, Georgia MSA and the LaGrange, Jefferson and Cedartown micropolitan areas, for a total 2012 population of 6,162,195.
The CSA abuts the Macon and Columbus MSAs. The region is one of the metropolises of the Southeastern United States, is part of the emerging megalopolis known as Piedmont Atlantic MegaRegion along the I-85 Corridor; the counties listed below are included in the Atlanta–Sandy Springs–Gainesville CSA. However, most other entities define a much smaller metropolitan area by including only the counties which have the densest suburban development. Fulton, DeKalb, Gwinnett and Clayton were the five original counties when the Atlanta metropolitan area was first defined in 1950, continue to be the core of the metro area; these five counties along with five more are members of the Atlanta Regional Commission, a weak metropolitan government agency, a regional planning agency. The ten ARC counties and five more form part of the Metropolitan North Georgia Water Planning District, created in 2001; the 12 counties listed above with under 75,000 residents are not included in any other metropolitan definition except the OMB/Census Bureau's MSA and CSA.
Hall County forms the Gainesville, GA Metropolitan Statistical Area, but with astronomical growth to over 190,000 residents, is now part of the Atlanta CSA. The official tourism website of the State of Georgia features a "Metro Atlanta" tourism region that includes only nine counties: Fulton, DeKalb, Cobb, Coweta, Douglas and Henry. Cumberland Perimeter Center Hartsfield-Jackson areaMore than one half of metro Atlanta's population is in unincorporated areas or areas considered a census-designated-place by the census bureau. Metro Atlanta includes the following incorporated and unincorporated suburbs and surrounding cities, sorted by population as of 2010: Principal city Atlanta pop. 472,522 Places with 75,000 to 99,999 inhabitants. 95,158 Sandy Springs pop. 93,853 Roswell pop. 88,346 Johns Creek pop. 76,728Places with 50,000 to 74,999 inhabitants Alpharetta pop. 57,551 Marietta pop. 56,579 Stonecrest pop. 53,490 Smyrna pop. 51,271Places with 25,000 to 49,999 inhabitants Places with 24,999 or fewer inhabitants The area sprawls across the low foothills of the Appalachian Mountains to the north and the Piedmont to the south.
The northern and some western suburbs tend to be higher and more hilly than the southern and eastern suburbs. The average elevation is around 1,000 feet; the highest point in the immediate area is Kennesaw Mountain at 1,808 ft, followed by Stone Mountain at 1,686 ft, Sweat Mountain at 1,640 ft, Little Kennesaw Mountain at 1,600 ft. Others include Blackjack Mountain, Lost Mountain, Brushy Mountain, Pine Mountain, Mount Wilkinson. Many of these play prominently in the various battles of the Atlanta Campaign during the American Civil War. If the further-north counties are included, Bear Mountain is highest, followed by Pine Log Mountain, Sawnee Mountain, Hanging Mountain, followed by the others listed above. Stone, Sweat and Sawnee are all home to some of the area's broadcast stations; the area's subsoil is colored rusty by the iron oxide present in it. It becomes muddy and sticky when wet, hard when dry, stains light-colored carpets and c
Dillard's Inc. is an American department store chain with 292 stores in 29 states headquartered in Little Rock, Arkansas. The largest number of stores are located in Florida with 42 and Texas with 57, but the company has stores in 27 more states although it is absent from the Northeast, most of the Upper Midwest, the Northwest, most of California, aside from three stores in smaller cities. Dillard's is the outgrowth of a department store founded in 1938 by William T. Dillard; the family still controls the company through its ownership of Class B Common Stock. Dillard sold the original five and dime store in Nashville, Arkansas, to develop a department store in Texarkana, Arkansas as the minority partner in Wooten & Dillard. In 1956, Dillard led an investment group that acquired the Schmidt store in Tyler, Texas; this store took on the name "Dillard's Mayer & Schmidt" until 1974, when it was replaced with a mall-based location south of downtown Tyler. In 1960, Dillard turned around the failing Brown-Duncan store in Tulsa, Oklahoma.
The success of this turnaround was followed in late 1963 by acquiring the Joseph Pfeifer store in Little Rock, in early 1964 acquiring the other main store in Little Rock, Gus Blass Co. Dillard used this as an opportunity to relocate his headquarters to Little Rock. In 1969, Dillard and his investors took Dillard Department Stores, Inc. public on the American Stock Exchange. Thereafter, the chain expanded as an anchor in suburban shopping malls, took advantage of market conditions to acquire smaller chains as well as its ability to turn around locations that other companies could not operate profitably. Expansion of the Dillard's chain increased during the 1970s through expanding into new malls being built in smaller cities in Texas. In 1971 five Texas units were acquired from a division of Federated Department Stores. In 1974 five Leonard's stores were acquired in Fort Worth, Texas, as well as a commitment to open a new downtown Fort Worth store at the Tandy Center. In 1974, the former Brown-Dunkin, Blass and Mayer & Schmidt stores were renamed Dillard's.
The 1980s brought the purchase of many local chains. In 1982, Dillard's leased three units of the defunct Lowenstein's chain in Tennessee. In early 1984, Dillard’s acquired 12 Stix, Baer & Fuller stores in St. Louis and Kansas City from Associated Dry Goods Corp. while in fall 1984 two department store divisions were purchased from Dayton-Hudson Corporation: Diamond's and John A. Brown, with locations in Arizona and Oklahoma. Twelve stores in Kansas and Missouri belonging to R. H. Macy & Co.'s Midwest Division, dissolved in 2006, were acquired in early 1986, while the three-unit Hemphill-Wells company in West Texas was purchased in the summer. The stores at Sunset Mall in San Angelo and South Plains Mall in Lubbock were both converted, while the third in downtown Lubbock was closed. In 1987, Dillard's purchased 26 of Joske's 27 stores in Texas and Arizona as well as the four unit Cain-Sloan chain in Nashville, from Allied Stores Corp; this deal gave Dillard's two major anchor locations at several malls in Texas and Arizona with many of the second locations being converted to a separate, expanded home and men's stores, a format that Dillard's utilized both to grow its store size cost and to prevent competitors from gaining valuable real estate.
Additionally the Joske's acquisition gave Dillard's entry into the Houston market. Dillard's in 1988 acquired the former Selber Bros. clothing department store chain, founded in 1907 in Shreveport, which had a few locations in Texas. In 1988, Dillard's purchased the three-unit Miller & Paine chain in Lincoln, Nebraska, as well as more a half-interest and operational control of The Higbee Co. based in Cleveland, with partner Edward J. DeBartolo Corp. D. H. Holmes Co. Ltd. of New Orleans, was purchased in 1989, bringing 18 units in Louisiana, as well two former Diamond's units in Tucson, Arizona. The Ivey's chain of 23 stores in Florida, North Carolina and South Carolina was acquired from BATUS in 1990; this was followed by the acquisition of eight Florida Gulf Coast stores from Maison Blanche Co. in 1991. In 1992, the remaining interest in the Higbee's stores were acquired, as well as five Ohio stores from Horne's. In 1992, three stores from the Hess's chain liquidation, two E. M. Scarbrough's locations in Austin, two Thalhimer's in South Carolina and Tennessee, a former Lord & Taylor store in Memphis and three Belk-Lindsey stores in Florida were acquired by Dillard's in 1996.
Except for two Belk of Columbia stores that were acquired in 1995, acquisitions were eschewed for a couple of years until early 1997 when ten buildings in Florida were sold from Mervyn's, which left the area to better focus on its core markets. The locations bought by Dillard's were at Cutler Ridge Mall, Miami International Mall, Pembroke Lakes Mall, Broward Mall, Coral Square, Pompano Fashion Square, Boynton Beach Mall, Treasure Coast Square, Melbourne Square, Lakeland Square Mall although two of t
Rich's (department store)
Rich's was a department store retail chain, headquartered in Atlanta, that operated in the southern U. S. from 1867 until March 6, 2005 when the nameplate was eliminated and replaced by Macy's. Many of the former Rich's stores today form the core of Macy's Central, an Atlanta-based division of Macy's, Inc. which operated as Federated Department Stores, Inc. The retailer began in Atlanta as M. Rich & Co. a dry goods store, on 28 May 1867, at 36 Whitehall Street, sole proprietor Mauritius Reich, a Hungarian Jewish immigrant. It was renamed M. Rich & Bro. in 1877, when he and brother Emanuel formed a partnership. In 1884 when the third brother Daniel was admitted into the partnership, the name became M. Rich & Bros. With business success came a need for expansion, the store was moved to larger locations: in July 1875 to 35 Whitehall. By 1877, Rich's was considered one of the "Big Five" stores in town, in the league of Chamberlain, Boyton, & Co.. M. High Company. In 1901 Rich's became a true department store when they divided like merchandise into separated sections.
The company was incorporated as M. Rich & Bros. Co. In 1906, the adjacent M. Kutz & Co. building at 52 Whitehall was acquired. Both it and 54-56 Whitehall were torn down. Rich's closed its furniture annex and moved its dry goods to that building, until a new building could be built on the site of 52-54-56 Whitehall. In April 1907 the new'emporium' opened for business; that building is still standing, known as the M. Rich and Brothers and Company Building at its current address of 82 Peachtree St. SE. In 1924 Rich's moved into its last flagship store at 45 Broad St. SE, between Alabama and Hunter streets, which it would occupy until closing in 1991, That building, a part of the Sam Nunn Atlanta Federal Center complex, was added to eight times during its department store life, it is an example of Palazzo style architecture, a favorite theme associated with department stores constructed in the early twentieth century. The 1946/1948 Store for Homes addition, to the west of the 1924 building across Forsyth Street, was one of Atlanta's earliest examples of International Style architecture.
In 1929, the company was reorganized and the retail portion of the business became Rich's, while a new, separate venture named M. Rich & Bros. Co. would operate as a real estate company. Daniel's son Walter Rich succeeded his uncle Morris as Rich's president from 1926 to 1947; the grandson of Morris Rich, Richard H. Rich, took over the store in 1949. Under the leadership of Richard Rich, affectionately known as Dick Rich, Rich's began expansion in the 1950s. Rich's moved outside the Atlanta area for its first new store in 1955 when a store in Knoxville Tennessee was opened. Rich's opened its first suburban store at Lenox Square in Georgia's first shopping mall; the open-air mall shared space with the other major Atlanta department store. That same year Rich's opened a store at Belvedere Plaza Shopping Center, a large two-level strip mall in Belvedere Park near Decatur and more famous for its "wigs and beepers" store. Rich's sold off its Knoxville store to Miller's when profits fell off, refocused on its Georgia stores.
Two holiday traditions associated with Rich's were the Pink Pig. Starting in 1948, the Great Tree, conceptualized by executive Frank Pallotta, was a massive pine, set on top of the multi-level glass skybridge connecting the main downtown Atlanta store with the Store For Homes across Forsyth Street. After the closure of the downtown store in 1991, the Great Tree, the annual Thanksgiving evening tree-lighting festivities, moved to nearby Underground Atlanta. After several years of poor attendance, the Tree was moved to the top of the Men's Store at the Lenox Square location; this placed the tree on the corner of the mall closest to the prominent intersection of Peachtree and Lenox Roads. The tree lighting ceremony traditionally features country and pop music performers from Georgia, such as Kenny Rogers, several choirs from local churches, a rendition of "O Holy Night" with the tree being lit by a child during the high note of the line "O night divine." The Pink Pig was a child-scaled monorail that hung from the toy department's ceiling in the downtown Store for Fashion.
In 1965, it was moved to the roof of the store where a second monorail was added and the duo became known as the Pink Pig Flyers. The front car of the trains had pig faces and the last cars had curly tails. For many years after the closure of the downtown store, the Pink Pigs were set up at the Festival of Trees at the Georgia World Congress Center. Macy's Lenox Square continues the holiday tradition using a redesigned child-sized train set up on the top level of the Lenox Road Parking Deck; the train ride takes riders through a storybook tale of Priscilla Pig. The original Pink Pig Flyers monorail cars are now at the Atlanta History Center where they are displayed. In 1967, Atlanta Constitution columnist Celestine Sibley wrote Dear Store: An Affectionate Portrait of Rich's. In it, she mentioned notable acts by Rich's staff and management, including the cashing of scrip payments made by the City of Atlanta to its schoolteachers during a financial crisis, accepting returns of worn nylons during World War II shortages, the efforts of their personal shopper service, "Penelope Penn," to find the perfect gift for thousands of customers who wrot
Emory Point is a mixed-use development on Clifton Road in Druid Hills, unincorporated DeKalb County, adjacent to Atlanta. It is across Clifton Road from the Centers for Disease Control and surrounded on three sides by the campus of Emory University, backing up to Peachtree Creek's South Fork; the complex contains 80,000 square feet of retail 443 apartments. Phase I is open of multiple phases, thus additional residential and retail space is to be added; the total cost is variously quoted as USD 60 million to USD 250 million. It is as of its opening in Fall 2012, the first new retail project built in the trade area in 20 years, the largest private development start inside the Perimeter in more than three years and the first partnership between Cousins Properties and Gables Residential, two Atlanta-based development companies. Tenants include CVS Pharmacy, JoS. A. Bank Clothiers, Ann Taylor Loft, Bonefish Grill, Fresh to Order, Which Wich? as well as other chain and independent stores and restaurants.
As of December 2012, twenty-one shops and restaurants were either open or lined up to open by February 2013. The complex is located on "The Cliff" Emory shuttle lines; the project was planned in 2006 as a 315,000 square feet condominium complex only. It was stopped in 2008 as the Great Recession deepened but was completed in 2012; the site has the potential for a total of nine buildings. Three are completed and four are being designed. Phase II is to add 40,000 square feet of retail. Official website
In retail, an "anchor tenant", sometimes called an "anchor store", "draw tenant", or "key tenant", is a larger tenant in a shopping mall a department store or retail chain. With their broad appeal, they are intended to attract a significant cross-section of the shopping public to the center, they are offered steep discounts on rent in exchange for signing long-term leases in order to provide steady cash flows for the mall owners. When the planned shopping centre format was developed by Victor Gruen in the early to mid-1950s, signing larger department stores was necessary for the financial stability of the projects, to draw retail traffic that would result in visits to the smaller shops in the centre as well. Anchors have their rents discounted, may receive cash inducements from the centre to remain open. Early on, grocery stores were a common type of anchor store. However, research on consumer behavior revealed that most trips to the grocery store did not result in visits to surrounding shops.
Large supermarkets remain common anchor stores within power centers however. As of 2005, the declining popularity of old-line department stores makes it necessary for mall management companies to consider re-anchoring with other retail alternatives, or mix commercial development with residential development to guarantee a captive clientele; the challenges faced by the traditional large department stores have led to a resurgence in the use of supermarkets and gyms as anchors. The International Council of Shopping Centers makes the presence of anchors one of the main defining characteristics of the two largest categories of centres, the regional center with 400,000 to 800,000 square feet in gross leasable area, the superregional center with more than 800,000 square feet of space; the regional center has two or more anchors, while the superregional has three or more. In each case, the anchors account for 50–70% of the centre's leasable space. Shopping centres with anchor stores have outperformed those without one, as the anchor helps draw shoppers attracted to the anchor to shop at other shops in the mall.
Retail Shopping centre Supermarket
The Cumberland Mall is a shopping mall in the Cumberland district of Metropolitan Atlanta near the suburbs of Smyrna and Vinings. It was the largest shopping mall in Georgia when it opened on August 8, 1973. Cumberland Mall in Atlanta was the first four-anchor mall built in Georgia; the original anchors to the mall were Rich's, Sears and JCPenney. The mall includes a multi-story parking deck to accommodate the large crowds; the mall was modeled after similar Landover Mall in Maryland and was so far superior to Cobb County's first mall that the older mall was unable to recover. Cumberland Mall remained one of the leading malls in the region for over a decade before Town Center Mall in Kennesaw opened in 1986. Cumberland Mall featured many distinct design elements to heighten the original mall experience, but as competition forced a major reshuffling of the mall, much of this was stripped away in the renovation of 1989; some of the original tenants that were lost at this point were Magic Pan, McDonald's, Piccadilly Cafeteria and Cashin's Restaurant among others.
One of the additions, was a food court, which had not existed previously. In 2003 Cumberland Mall lost its first anchor, Macy's; the vacant store resulted in a major redevelopment plan. The redevelopment included the demolition of the old Macys, replaced with a new mall entrance complete with an open-air wing; this mall has restaurants such as Buffalo Wild Wings, Maggiano's Little Italy, The Cheesecake Factory, P. F. Chang's China Bistro, Stoney River Legendary Steaks, Ted's Montana Grill. Other changes included the demolition of the JCPenney, which planned to close its store, for the construction of a new Costco; the changes included a complete interior renovation with new skylights and an expanded food court. These changes were planned to keep the mall competitive with only two traditional department stores remaining: Macy's and Sears. All the renovations were completed in early 2007. In 2015, Sears Holdings spun off 235 of its properties, including the Sears at Cumberland Mall, into Seritage Growth Properties.
On March 11, 2015, Tomorrow's News Today - Atlanta detailed Kroger's plans to take over the upper level of Sears and reopen it as a 93,000-square-foot grocery store by the summer of 2016. On January 12, 2016, Kroger announced. On August 22, 2018, Sears announced that it would be closing in November 2018 as part of a plan to close 46 stores nationwide. After the store closed Costco and Macy’s are the remaining anchors left; the mall is connected to the Cobb Galleria Centre via a pedestrian walkway that bridges Cobb Parkway. Cumberland Cobb Galleria Official Website