Thursday, April 2, 2009

More of the same: Belk announces 2008 loss

Posted By on Thu, Apr 2, 2009 at 1:13 PM

Back where I'm from (Augusta, Ga.), Belk went out of business a long, long time ago. Not that I'm saying that's going to happen here, but here's the latest from the Charlotte-based retailer:

The Charlotte-based retailer today reported a net loss of $213 million for the 12 months that ended Jan. 31, compared with $95.7 million in net earnings the year before. The 2008 loss is due largely to a $326.6 million non-cash goodwill impairment charge.

Read the full story here.

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