Belk Buys Four Proffitt's Stores

Charlotte-based Belk is buying four of the nine Proffitt's department stores in Eastern North Carolina. Belk will close the stores in Kinston and Rocky Mount and use the Proffitt's in Greenville and Goldsboro for expansion. All four of the stores are slated to close by the end of February. A spokeswoman for Proffitts says it sold the four stores because they were under-performing.