Belk steps down as CEO

Belk CEO Tim Belk has announced his retirement, marking the end of era for the family-run department store chain. Lisa Harper has been named his successor as of July 5.  

Charlotte, North Caroline-based Belk was acquired last year by Sycamore Partners for $3 billion.

"After managing through the ownership transition and filling a number of key management positions, I've decided this is an opportune time for me to retire as CEO of Belk," said Tim Belk. "It has been an honor to continue my family's legacy by serving the company over the past 35 years. I would like to express my gratitude to the thousands of associates, both current and former, and the customers who have helped create the company Belk is today. Their commitment to and passion for our company has been incredible."

"Tim's vision and passion as a leader were among the qualities that first attracted us to Belk, and I look forward to continuing to work with him on the board," said Stefan Kaluzny, Belk chairman and managing director of Sycamore Partners. "We are excited for the company's next chapter, and we believe Lisa will position Belk for future success as we build on the company's legacy and continue to deliver its Modern. Southern. Style."

Harper was most recently CEO of Hot Topic from March 2011 through June 2016, and she was CEO of Gymboree from 2001 to 2006. She also held various creative, merchandising and design positions at Gymboree and held similar positions with several other clothing retailers, including Limited Too, Esprit de Corp., GapKids, Mervyn's and Levi Strauss.

She will remain on the board of Hot Topic and Belk will continue to serve on his company's board.

Tim Belk was the third generation of the Belk family to lead the company.

For more:
- see this Belk press release
- see this Charlotte Business Journal story