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Sources: Department Store Chain Belk Seeks Sale

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Belk

(Reuters) – Belk Inc. is exploring a sale that could value the largest family-owned and operated department store chain in the United States at as much as $4 billion, including debt, people familiar with the matter said on Thursday.

Belk has hired investment bank Goldman Sachs Group Inc. to help it evaluate strategic alternatives, including a potential sale, the people said.

Major department stores, such as Macy’s Inc. and Nordstrom Inc., as well as large private equity firms are expected to be contacted by Belk to solicit their interest in a deal, the people added.

Belk is projected to have annual earnings before interest, tax, depreciation and amortization this year of around $400 million, one of the people said.

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Oakland Post: Week of November 13 – 19, 2024

The printed Weekly Edition of the Oakland Post: Week of November 13 – 19, 2024

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LIVE! — TOWN HALL ON RACISM AND ITS IMPACT — THURS. 11.14.24 5PM PST

Join us for a LIVE Virtual Town Hall on the Impact of Racism hosted by Post News Group Journalist Carla Thomas and featuring Oakland, CA NAACP President Cynthia Adams & other Special Guests.
Thursday, November 14, 2024, 5 p.m. – 6:30 p.m. PST

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Join us for a LIVE Virtual Town Hall on the Impact of Racism hosted by Post News Group Journalist Carla Thomas and featuring Oakland, CA NAACP President Cynthia Adams & other Special Guests.
Thursday, November 14, 2024
5 p.m. – 6:30 p.m. PST

Discussion Topics:
• Since the pandemic, what battles have the NAACP fought nationally, and how have they impacted us locally?
• What trends are you seeing concerning Racism? Is it more covert or overt?
• What are the top 5 issues resulting from racism in our communities?
• How do racial and other types of discrimination impact local communities?
• What are the most effective ways our community can combat racism and hate?

Your questions and comments will be shared LIVE with the moderators and viewers during the broadcast.

STREAMED LIVE!
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YOUTUBE: youtube.com/blackpressusatv
X: twitter.com/blackpressusa

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Oakland Post: Week of November 6 – 12, 2024

The printed Weekly Edition of the Oakland Post: Week of November 6 – 12, 2024

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