What’s in store for you when you’re shopping with Belk online?
Posted On July 16, 2021
BLS data show the average price of a dollar spent on Belk products on the first day of January dropped 5.4% from the same period in 2016.
The price of an ounce of sugar dropped 4.2%.
And the price of coffee, which has a history of falling in price when it goes into circulation, fell 3.7%.
The price for a single drink rose 0.9%.
The price of the first Belk sale was $2.99, according to data compiled by Bloomberg from online shopping data aggregator BLS.
The average price per day dropped from $5.36 in 2016 to $5,037.03 on Jan. 1.
The prices for Belk’s online shoppers were up 0.6% year-over-year.
The average price for its retail stores rose 1.4%.
The company’s stock rose nearly 1% in early trading, after trading lower in the wake of the news.
The S&P 500 index of stocks closed down 1.6%.
The latest data was compiled as the company reported quarterly results on Jan 2.